Obama Aims for $1B Library, Foundation


obamaPresident Barack Obama has been ambitiously planning his postpresidency, mapping out infrastructure that could cost as much as $1 billion, the New York Times reported on Sunday.

Obama has been using White House dinners with influential guests and donors to discuss his life as an ex-president, which could include a “digital-first” presidential library equipped with modern technologies and a foundation with a global reach.

Obama’s associates have set a goal of raising at least $800 million for the Chicago-based presidential library, including construction costs, which they say is enough to avoid perennial fundraising, according to NYT.

The president’s team has so far raised just over $5.4 million from 12 donor gifts ranging from $100,000 to $1 million. It’s unclear what the president’s foundation will focus on, but Obama has reportedly pushed dinner guest for ideas about how to make government work better. Read more at the New York Times.

{CB Frommer-Matzav.com}