Former President Barack Obama and First Lady Michelle Obama are experiencing a significant decline in donor support for the Obama Presidential Center as wealthy backers withdraw their contributions.
The Chicago-based center saw a drastic drop in fundraising, according to IRS filings.
In 2022, the foundation raised over $311 million, with donations from Amazon CEO Jeff Bezos and Airbnb CEO Brian Chesky, who each contributed $100 million.
However, fundraising dropped by more than 50 percent in 2023.
“He’s arrogant,” said one donor. “He didn’t help others when they were trying to fundraise, so they’re not going to look out for the Obamas now.”
“There’s no quid pro quo because it’s a one-way street.”
Concerns have also been raised over financial management at the foundation.
In 2023, more than $5 million was paid in “executive compensation,” while over $27.36 million was allocated for other wages.
According to The Daily Beast, longtime Obama confidant and the foundation’s CEO, Valerie Jarrett, received $740,000 that year.
