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August 17, 2015

$800-Million Campaign in Works for Obama After Presidency

Close associates of President Obama have set a fundraising target of at least $800 million to establish the infrastructure for his post-White House life, centering on a tech-minded "digital-first" presidential library and an anticipated global foundation, writes The New York Times. Costs for the projects could run as high as $1 billion, according to one top Obama adviser, more than double what George W. Bush raised for his library and post-presidential programs.

Aides say the president has been holding informal conversations about his plans with an eclectic set of figures from the business, technology, and entertainment worlds, including filmmaker Steven Spielberg, LinkedIn billionaire Reid Hoffman, and actress Eva Longoria. The foundation charged with building Mr. Obama's library in Chicago raised $5.4 million in its first year, with major solicitations set to start after the president leaves office. Advisers said criminal-justice reform and race relations would likely be among the areas of focus for Mr. Obama's future policy and philanthropic work.