US President Donald Trump has announced Kevin M Warsh as the new chairman of the Federal Reserve System, replacing Jerome H Powell. In a post on Truth Social, Trump said he had decided on a central banking role. “I am pleased to announce that I am appointing Kevin Warsh to chair the BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM,” said Donald Trump in a recent post on Truth Social.
Trump reportedly met with Warsh at the White House on Thursday and later told reporters he would soon appoint someone “known to everyone in the financial world.”
Who is Kevin M Warsh?
Kevin Warsh is a former member of the Federal Reserve Board of Governors who served from 2006 to 2011. He is also close to Donald Trump and has advised the president on economic policy, according to a Bloomberg report.
Although Kevin Warsh’s exact net worth has not been publicly disclosed, his career trajectory suggests considerable personal wealth. From 2006 to 2011, he served as governor of the Federal Reserve System, a position that pays more than $200,000 a year — roughly $1.2 million over a five-year period.
Prior to his time at the Federal Reserve, Warsh held a senior role at Morgan Stanley, eventually becoming a vice president. Executives at this level typically earn close to $300,000 per year, according to job portal data. Combined, these earnings put Warsh’s personal net worth comfortably in excess of one million dollars.
Warsh also expressed a broadly supportive view of bitcoin, previously describing it as a “sustainable store of value, similar to gold.”
During the George Bush administration, Warsh served on the Federal Reserve Board and played a key role in economic policymaking during that time.
Born in Albany, New York, Warsh received his early education at Stanford University before enrolling at Harvard Law School. He also holds advanced degrees from Harvard Business School and the Sloan School of Management at the Massachusetts Institute of Technology.
Warsh is married to Jane Lauder, an American billionaire heiress whose grandparents founded the venerable cosmetics company Estée Lauder. The couple met at Stanford University and tied the knot in 2002.
According to Forbes, Jane Lauder joined the family business in 1996, a year after graduating from Stanford University. She previously oversaw the operations of the company’s Clinique and Origins brands.
In 2018, she was appointed to the board of directors of Eventbrite, a ticketing and events company. Jane left her role as executive vice president of Estée Lauder in 2024, but has continued her long association with the company as a board member since 2009.
According to Forbes, her net worth is estimated to be well over $2 billion.
In comparison, his wife’s fortune is much higher and her net worth is estimated at more than $2 billion.
