Obama has no intention of dipping into his billion-dollar personal piggy bank foundation to honor his promise of funding for the Obama library build

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mark francis

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Democrats would rather make themselves liars than get off a dime of their hoarded wealth to honor promises they made but never intended to keep.

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Obama Foundation Deposits Only $1M of Promised $470M Endowment for Center

This is pretty dastardly...
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Obama Foundation Deposits Only $1M of Promised $470M Endowment for Center

It’s a tired old script, isn’t it? A politician, surrounded by adoring cameras, unveils some magnificent vision. They talk about legacy and community, promising hardworking Americans that their interests will be protected. It’s a wonderful performance–and the media eats it up hook, line, and sinker.

But when the applause dies down, and the cameras are turned off, the promises are quickly forgotten. The solemn vows made to the public are treated as optional, and taxpayers are left holding the bag for another vanity project. This happens a lot. But this time, it is pretty bad. Because golden boy Obama has just abandoned a huge promise to his own city.
 
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Obama has nowhere near a billion dollars. No president has ever contributed to fund building his own library. I think a million dollar donation from his fund is quite generous.
 
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Gabriel_Bell said:
Obama has nowhere near a billion dollars. No president has ever contributed to fund building his own library. I think a million dollar donation from his fund is quite generous.
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I think only an extremely small circle of insiders know how much money Obama really has stashed in banks. But it is apparently public record that the US government has not pledged funds for the library, and the city of Chicago has not pledged funds for the library, which is why so much furor has erupted over the claim that Chicago is going to be forced to pay to complete the structure.

From public records it appears that the Obama Library funding was to be provided entirely by the Obama Foundation at the outset.

Emily Bittner, vice president of communications for the Obama Foundation, which owns and manages the project, said the foundation sees no “racist intent” in the actions of the structural engineer, Thornton Tomasetti, which blamed McGee and his concrete construction partners for shoddy work that had to be corrected, adding time and expense to the project.

The Foundation had apparently raised $1.5 billion for the construction of the library by the end of 2023, yet the costs are still not covered.

But the foundation had raised $1.5 billion through the end of 2023, with net assets of $962 million, keeping it on track to hit its $1.6 billion fundraising goal, foundation spokeswoman Gloria Nlewedim told the Chicago Tribune.

Part of the shortfall in funding is due no doubt to the fact that the Foundation has paid excessively high salaries and overhead to the Foundation's officers as well as donated millions of dollars of donated funds to leftwing organizations including millions of dollars donated to the Tides Foundation run by George Soros.

The Obama Foundation, which employed 312 people in 2023 and had operating expenses of $88 million, also spent more on mission-driven programming than in any other year — $34 million, according to its tax filing, the Tribune reported. ...

Also:

Money donated to build Obama library sent on to Tides group

Money donated to build Obama library being sent on to politically charged Tides group

Published Sep. 26, 2025, 6:00 a.m. ET

Millions of dollars sent to Barack Obama’s foundation has ended up being donated to a progressive fund that supported anti-Israel groups, accused of setting up encampments at Ivy League universities, according to public documents.
 
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