Celebrities rally to build a $1 billion presidential library-loaded-for Obama

President Obama is lobbying celebrity friends, bankers and the super rich — the same people he routinely attacks — for what may amount to more than $1 billion to fund his presidential library and other post-presidency plans.

While the president and his party were busy complaining about income inequality Obama’s aides were creating strategies to raise a minimum of $800 million for the president’s life after the White House, according to the New York Times.

That strategy included whining and dining various big-wig guests at a private dinner this past February, including billionaire LinkedIn founder Reid Hoffman, hedge fund manager Marc Lasry, venture capitalist John Doerr and actress Eva Longoria, the Times reported.

Longoria Obama
Photo via The Telegraph.

The $1 billion — double what George W. Bush raised for his library and its various programs — would be used for what one adviser called a “digital-first” presidential library loaded with modern technologies, and to establish a foundation with a worldwide reach.

Supporters have urged Mr. Obama to avoid the mistake made by Bill Clinton, whose associates raised just enough money to build his library in Little Rock, Ark., forcing Mr. Clinton to pursue high-dollar donors for years to come. Including construction costs, Mr. Obama’s associates set a goal of raising at least $800 million — enough money, they say, to avoid never-ending fund-raising. One top adviser said that $800 million was a floor rather than a ceiling.

So far, Mr. Obama has raised just over $5.4 million from 12 donors, with gifts ranging from $100,000 to $1 million. Michael J. Sacks, a Chicago businessman, gave $666,666. Fred Eychaner, the founder of a Chicago television empire, donated $1 million. Mark T. Gallogly, a private equity executive, and James H. Simons, a technology entrepreneur, each contributed $340,000 to a foundation set up to oversee development of the library.

The real push for donations, foundation officials said, will come after Mr. Obama leaves the White House.

Ah, yes, the fundraising has just begun.

So much for income inequality.

Social media users blasted the idea.


Carmine Sabia Jr started his own professional wrestling business at age 18 and went on to become a real estate investor. Currently he is a pundit who covers political news and current events.
Carmine Sabia


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