Kevin Warsh Reveals Financial Assets Before Federal Reserve Chair Confirmation Hearing

Kevin Warsh, nominated by President Trump for the position of Federal Reserve Chair, disclosed his financial holdings ahead of his confirmation hearing set for next week. Warsh's net worth is reported to be more than $100 million. Among his financial interests, Warsh has stakes in SpaceX and Polymarket.

He also owns between $1 million and $5 million in vested phantom stock from UPS and a similar amount in vested restricted stock units. Six months after his potential confirmation, he will receive a cash payment equal to the value of the vested phantom stock.

In conjunction with his nomination, Warsh announced he will resign from his positions at the Group of 30 and the Hoover Institution, as well as his role as a visiting fellow at Stanford University’s Graduate School of Business.

Warsh previously served as a Federal Reserve governor from 2006 to 2011 and worked for Morgan Stanley from 1995 to 2002. If confirmed, Warsh will earn an annual salary of $253,100, which is standard for top-level political appointees. His confirmation comes amid a backdrop of scrutiny for the current Fed Chair, Jerome H.

Powell, whose term expires next month. President Trump has stated he would fire Powell if he does not step down soon. Additionally, Senator Thom Tillis (R-NC) has vowed to block any Fed nominees until the Department of Justice's investigation into Powell is resolved, which may complicate Warsh's confirmation process.