SpaceX, Polymarket and AI startups: where Trump's nominee to head the Fed is investing

Kevin Warsh, Donald Trump's nominee to head the Federal Reserve, has revealed his investment portfolio ahead of a Senate hearing to consider his nomination. Here's the highlights from his 69-page declaration:

- The total value of Worsh's assets may range from $131 million to $209 million. It is impossible to estimate it more precisely, as the document indicates the value of investments only in ranges. However, it is clear that if appointed, Warsh will become the wealthiest head of the Fed, notes CNBC. Previously, this status belonged to current central bank chairman Jerome Powell, who worked on Wall Street before his civil service. In the declaration for 2025 Powell indicated the capital of $19 to $75 million;

- Warsh disclosed in the filing two investments worth more than $50 million in the Juggernaut Fund. This fund is managed by the Duquesne Family Office of billionaire Stanley Druckenmiller, who is considered a mentor to the candidate for Fed chief. After leaving government service in 2011, Warsh became a partner in Druckenmiller's firm. In his tax return, he said he received $10 million from his work as a consultant to Druckenmiller;

- The declaration shows a total of about 1,800 separate items, including bank accounts and investments in other investment funds. For a number of assets the composition is not disclosed due to confidentiality agreements;

- At the same time, Warsh disclosed stakes in dozens of technology startups. The most famous of them are Elon Musk's space company SpaceX, which is now preparing for an IPO, and the market forecast exchange Polymarket;

- Warsh has also invested in a slew of little-known AI companies, Reuters notes. Among his investments are the startup Volt, which is described as a developer of "AI-based physical security software," the event management platform Partiful, the robotic coffee shop Cafe X and the service for creating "digital clones" of Delphi AI;

- another area of investment - cryptocurrencies and fintech. The declaration includes the Ethereum-based developer platform Tenderly, the Stashfin service designated as "neobank in consumer lending," and the Lemon Cash cryptocurrency services platform.

Warsh has promised to sell some of his assets if he is confirmed as Fed chairman.

- Warsh's declaration also shows tens of millions of dollars worth of assets belonging to his wife Jane Lauder. She is a member of the board of directors of the Estee Lauder cosmetics company founded by her grandmother. Forbes estimates her fortune at $1.9 billion.

The size and complexity of Warsh's portfolio reflects the breadth of his ties to Wall Street and Silicon Valley through investments and advisory relationships, WSJ writes. So far, no other Fed chairman has had a comparable set of assets, the publication notes.

The current head of the Fed, Jerome Powell, is due to leave his post in May. Warsh, nominated by Trump in March, has yet to be confirmed by the Senate. The Senate Banking Committee is expected to hold a hearing on the matter next week. One senator, Republican Thom Tillis, has pledged not to vote for Warsh until the Justice Department completes its investigation of Powell.

This article was AI-translated and verified by a human editor