Incoming Fed Chairman Kevin Walsh to Sell $2.52 Million Worth of Coupang Shares

Reports Sale of 102,363 Class A Coupang Shares
In Compliance with Fed Ethics Rules...Likely to Sell in Tranches

Kevin Walsh, the next chairman of the U.S. Federal Reserve (Fed), will sell his shares in Coupang Inc., the parent company of Coupang, before taking office.

Kevin Walsh, the next chairman of the U.S. Federal Reserve (Fed). Photo by Reuters Yonhap News.

According to disclosure documents from the U.S. Securities and Exchange Commission (SEC) on May 16 (local time), Walsh has begun selling 102,363 shares of Coupang Class A common stock that he owns. The shares being sold this time are restricted stock units (RSUs) that Walsh received as compensation for board activities, awarded in four installments from August 2021 to June 2025. Walsh currently holds approximately 459,000 Coupang shares, and the shares being sold represent 22.3% of his holdings. The market value of the shares listed in the disclosure is $1,681,998 (approximately 2.52 billion won).

This sale of Coupang stock is being interpreted as a move to eliminate any potential conflicts of interest ahead of Walsh's inauguration as Fed chairman. According to Fed ethics rules, the chairman and board members are not allowed to hold shares in individual companies. However, it appears that Walsh opted for a phased sale to minimize any impact on the stock market. Additional disclosures regarding the sale of his remaining shares are expected to follow.

Walsh has served as a Coupang board member since October 2019. However, after being confirmed by the Senate as Fed chairman on May 13, he resigned from the board. Coupang explained in a disclosure that Walsh's resignation was due to his appointment as Fed chairman, stating, "It was not due to any disagreement regarding the company's operations, policies, or practices." Coupang also announced that it plans to leave Walsh's seat vacant, reducing the board size by one member.

During his confirmation hearing before the Senate Banking Committee last month, Walsh stated that he would liquidate financial assets worth tens of millions of dollars before taking office, adding, "I have decided to sell virtually all financial assets to ensure there can be no questions about my independence or the transparency of my financial record."

Walsh is considered the wealthiest individual ever to serve as Fed chairman. According to a financial disclosure released in April, he and his spouse jointly own at least $200 million (approximately 300 billion won) in assets. Walsh is a Harvard alumnus like Coupang chairman Kim Bomseok and is married to Jane Lauder, daughter of Ronald Lauder, the former chairman of Estée Lauder International and president of the World Jewish Congress. Ronald Lauder is known as a longtime supporter and friend of U.S. President Donald Trump.

This content was produced with the assistance of AI translation services.