Trump-backed Fed chair candidate Kevin Worsh details broader financial stakes ahead of Fed confirmation hearing.
Holdings in Elon Musk’s SpaceX company and prediction platform PolyMarket are among dozens of future-oriented assets listed by Federal Reserve Chairman Kevin Wersh in a newly filed financial disclosure that shows dozens of apparently short bets on a wide range of emerging and almost science fiction-sounding enterprises.
The extensive stake underscores Warsh’s ties to Wall Street and Silicon Valley through investment and advisory relationships.
The filing, released Tuesday by the government ethics office, also reflects a new urgency in pursuing his confirmation.
Additionally, the filings reveal more than $10 million in tech bets and consulting fees for Trump’s selection to lead the central bank.
Additionally, Warsh’s net worth exceeds $100 million due to major holdings, including two holdings of more than $50 million in Juggernaut Fund LP, apparently part of Warsh’s work advising Stanley Druckenmiller’s private investment firm Duquesne Family Office.
But it is in dozens of other holdings, listed as part of DCM Investments 10 LLC, which has a market cap of no more than half a million dollars, that Warsh’s style as a traditionalist central banker comes to the fore as he advises on the emerging future of digital AI avatars, AI-powered art, new vaccines for herpes and long-acting reversible male contraception, and decentralized derivatives trading.
SpaceX is best known for Musk’s business ambitions to provide worldwide internet satellite coverage and manned travel to Mars.
But the relatively small half-million dollars spread across dozens of firms suggests early-stage bets on lesser-known companies that may, may not, or may make it big.
Warsh’s filing describes “Recraft” as an “AI vector art platform.”
Volt, an “AI physical security software” company, and 11x, an “autonomous AI workforce platform.”
A company called Outpace Bio is involved in protein engineering, a field that is believed to have immense potential through the use of AI; Partful takes human welfare in a different direction, offering a “social event planning platform”; Café X may provide synergy there with its “Robotic Coffee Bar Platform.”
Additionally, crypto and fintech are other focuses, including Tenderly, an “Ethereum developer platform”; StashFin has been described as a “consumer lending neobank” and Lemon Cash as a crypto financial services platform.
Additionally, there is also a “digital cloning platform” called Delphi AI, whose website says it will “turn your knowledge into an interactive profile that people can talk to” – a tool Warsh might find useful at a Fed press conference.
