Kevin Warsh, the incoming chair of the U.S. Federal Reserve, is set to sell a significant portion of his shares in Coupang, the parent company of Coupang Inc.
On May 16, the U.S. Securities and Exchange Commission (SEC) disclosed that Warsh plans to sell 102,363 shares of Coupang Class A common stock. The shares, which he received as part of his compensation for serving on Coupang's board from August 2021 to June 2025, are valued at approximately $1.68 million (about 25.2 billion won).
This sale is seen as a measure to address potential conflicts of interest ahead of his Fed chair appointment, as the Fed's ethics rules prohibit its chair and directors from holding individual company stocks.
Despite this sale, Warsh still holds over 459,000 shares of Coupang, meaning the sale represents about 22.3% of his total holdings. It appears he is opting for a staggered sale to minimize market impact, and additional sales of his remaining shares may follow.
Warsh has served on Coupang's board since October 2019 but stepped down from his position after being confirmed by the Senate as the next Fed chair on May 13.
Coupang stated that Warsh's resignation was due to his upcoming role as Fed chair and emphasized that it was not related to any disagreements regarding the company's operations, policies, or practices.
Additionally, Warsh is noted for being the son-in-law of Ronald Lauder, heir to the Estée Lauder cosmetics fortune, and is considered one of the wealthiest individuals to have held the Fed chair position. According to a financial disclosure made public in April, Warsh and his spouse have a combined net worth of at least $200 million (approximately 300 billion won).
* This article has been translated by AI.
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