Kevin Warsh, President Donald Trump’s nominee to lead the Federal Reserve, disclosed a broad portfolio of investments that places his personal assets at more than $100 million, according to newly filed financial records.
The filings show that Warsh holds large positions tied to traditional investment vehicles while also maintaining smaller stakes in a wide range of private companies linked to artificial intelligence, crypto, biotech, fintech, and aerospace.
The records list Warsh’s assets at roughly $131 million to $209 million, excluding extensive wealth held separately by his wife, Jane Lauder. Two holdings valued at more than $50 million each are connected to Juggernaut Fund LP, an investment vehicle linked to Warsh’s advisory role with the Duquesne Family Office, the private investment firm of Stanley Druckenmiller. The disclosures also show that Warsh earned $10 million from that advisory work, along with additional income from Stanford University and other business roles.
AI, SpaceX and Digital Assets
Beyond those large positions, the filings describe a separate set of smaller investments under DCM Investments 10 LLC. These holdings, while individually limited in value, offer a detailed view of the sectors where Warsh has placed capital. The list includes SpaceX, the private space company founded by Elon Musk, and Polymarket, a prediction market platform known for event-based trading.
Warsh’s smaller holdings show a strong concentration in emerging technology. Among the companies listed are Recraft, described as an AI vector art platform; Volt, an AI physical security software company; and 11x, an autonomous AI workforce business. The disclosures also include Delphi AI, a digital cloning platform that builds interactive profiles based on a person’s knowledge and responses.
His investments also extend to crypto and financial technology. The records name Tenderly, an Ethereum developer platform, Lemon Cash, a crypto financial services company, and Stashfin, a consumer lending neobank. Polymarket appears among those digital-era bets, placing Warsh in another category that has drawn public attention as prediction markets continue to expand.
Health and Consumer Startups
The filings also show positions in healthcare and consumer-facing startups. Among them are Outpace Bio, a protein engineering company, and firms developing a herpes vaccine and a long-lasting reversible male contraceptive. Those entries place part of Warsh’s portfolio in areas shaped by biotechnology research and clinical development.
Other investments point to consumer and lifestyle ventures. Partiful, an event planning platform, is listed alongside Cafe X, a robotic coffee bar company.
The disclosures also mention a bionic clothing business focused on movement assistance. Together, these assets show that Warsh’s holdings are not limited to finance or public-market investments but are spread across a large number of early-stage ventures.
Wealth, Divestment, and Confirmation Process
Warsh’s financial position exceeds that of recent Federal Reserve chairs. Jerome Powell’s 2025 disclosure showed assets ranging from $19 million to $75 million, while former Chair Ben Bernanke reported far less when he left office in 2014. Warsh’s filings also include roughly 1,800 individual assets, though many are described in general terms because of confidentiality restrictions.
If confirmed by the Senate, Warsh said he would divest certain assets. The disclosures also state that he plans to step down from board roles at UPS and Coupang, along with other professional commitments. Additional assets held by Jane Lauder add to the scale of wealth connected to the household, with public estimates placing her fortune far higher.
The filing moves Warsh closer to a Senate hearing, though the timing of a final vote remains uncertain.
