Joe Biden, the previous incumbent of the White House, is finding himself in a quandary, as he attempts to fundraise for his presidential library. The response from potential donors, quite predictably, has been less than enthusiastic, throwing a wrench into Biden’s aspirations. For instance, John Morgan, a personal injury attorney from Florida who once raised almost a million dollars for Biden, now insists that his continued support is unlikely. As an illustration of his skepticism, Morgan commented, ‘I don’t see a library being built unless it’s in the form of an antique bookmobile.’
Even Susie Buell, a known heavyweight donor in the Democratic Party, shared similar sentiments, stating, ‘I am not inclined to give to libraries.’ Another donor, while admitting they wouldn’t mind Biden having a ‘nice library,’ confessed that their money would probably find another cause to support. Sussinctly summarising the donor mood, a former Biden bundler and administration official stated, ‘Me? No way.’
Interestingly, despite this widespread reluctance, none of the former Biden donors expressed personal animosity towards him. Their reasons for withholding contributions varied from not wanting to be in the White House’s crosshairs to preserving their financial resources for the party’s future. A few donors, however, did share that their interactions with Biden’s inner circle left a distasteful impact, further dwindling confidence in raising substantial funds for the 46th president of the United States.
Further hindering the fundraising prospects is the fallout within the Democratic Party over Biden’s decision to seek a second term, despite concerns over his health. This decision disrupted the party’s nomination process, with Biden’s evident cognitive struggles during a June 2024 televised debate adding fuel to the raging fire. Clearly, these issues raise serious concerns about his ability to secure the estimated $200 million to $300 million necessary for the library project.
Rufus Gifford, former finance director for President Obama and Biden’s re-election campaign fundraiser, has been named chairman of the library board. Despite the uphill battle, he remains hopeful that donors will eventually come around. A person familiar with the Biden team’s plans also mentioned a project goal lying in the $200 million and $300 million ballpark, a stark contrast to the $850 million spent on the Obama Presidential Library.
In comparison to Biden’s flagging efforts, President Donald Trump, even while still in office, amassed significant funds for his future library. This, along with his controversial purchase of an opulent 747 megajet from the Qatari royal family for his future library foundation, has earned the ire of the Democrats. Clearly, Biden’s outrageously ambitious dream of running his own presidential library is hitting a wall of stark reality.
However, Morgan expressed doubt about the construction of a significant Biden building, stating his suggestion of a ‘bookmobile’ might not be a joking matter. He attributed Biden’s fundraising woes to factors ranging from the former president’s advanced age and health issues to his ill-received decision to seek a second term.
The Democratic National Committee fundraising chair, Chris Korge, pointed out additional challenges of large-scale fundraising, due to the pervasive influence and intimidating presence of Donald Trump. Donors have also expressed displeasure with the lack of access to Biden during his tenure. They felt used for financial contributions without any acknowledgement or reciprocity from the Biden administration.
Expectations regarding financial support towards the Biden library are proving to be unrealistic. Many Democrats believe that their capital should be invested in the upcoming midterm elections rather than in an essentially symbolic endeavour. Nikki Fried, the Florida Democratic Party chair, emphasized this, saying, ‘I don’t know if the donors will be ready to set aside their money for a library when we’ve got crucial issues to address.’
Further skepticism comes from the less-than-impressive track record of the Democratic Party in resource utilization. Despite the substantial funding raised in the previous cycle, the party holds no significant positions of power – be it Congress, the White House, or on a state level. Such underwhelming outcomes further dampen the prospects of donors parting with their money without a tangible plan to put it to use.
Biden has traditionally had a small pool of major donors, narrowing his prospects of sourcing substantial funds for his library. A predominantly inward looking circle of confidants and his unsatisfactory efforts in donor relationship management have not helped his cause. These issues, along with Biden’s advancing age, add to the list of troubles Biden’s fundraising crusade must navigate.
An ex-Biden bundler mentioned, ‘The term ‘challenge’ doesn’t adequately describe the predicament. The road ahead resembles more of an uphill climb.’ Token donations might come from sentiments of loyalty or gratitude, but procuring large amounts is unlikely. Putting the priority on more urgent causes, one donor commented, ‘With the affairs of our country in the state they are, there are more important initiatives in need of funding.’
A factor that has left potential donors indignant is Biden’s decision not to use ambassadorship appointments to reward and attract massive contributors. This lack of strategy displayed by Biden is seen as a missed opportunity. As one person put it, ‘There’s a reason why ambassadors are wealthy — because you need them at some point.’
Finally, a historical Biden fundraising figure commented on the need to move beyond the 2024 election incidents and suggested that despite Biden’s unimpressive ending, he was deserving of a foundation or library museum, owing to his years of service. However, even this individual was unable to commit to financial support, reflecting the prevalent disillusionment and reluctance within potential donors.
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