Wintour, a U.K. native and U.S. citizen, was one of the Obama campaign’s largest campaign bundlers.

Over the summer, Wintour hosted two fundraising dinners, each costing more than $35,000 a plate, at the homes of actress Sarah Jessica Parker and movie executive Harvey Weinstein.

It’s common practice for presidents to reward their top fundraisers with ambassadorships.

Vogue spokeswoman Megan Salt dismissed the speculation.

“She’s very happy with her current job,” she told Bloomberg.