President Joe Biden is reportedly facing significant challenges in securing funding for his planned presidential library, a project that could require upwards of $200 million to $300 million.
According to a report from The Wall Street Journal, Biden’s team has been struggling to attract the donor commitments necessary to establish a legacy institution where his presidential records, letters, and memorabilia would be preserved.
Traditionally, former presidents have relied on a combination of private donations and high-profile fundraisers to build their libraries. However, Biden appears reluctant to employ the typical fundraising tactics used by predecessors, such as offering mega-donors an overnight stay at the White House.
The hesitation among donors stems in part from Biden’s unsteady fundraising base, a problem that has hindered his campaigns in the past. Many donors are reportedly holding off on making contributions until the results of the November election are finalized.
Some are also cautious due to Biden’s unexpected withdrawal from the 2024 race and the impact of his abbreviated re-election bid, which has raised questions about his commitment and longevity in the political arena.
Steve Richetti, one of Biden’s closest aides and a seasoned advisor, is now spearheading the fundraising effort for the library, aiming to garner support from prominent donors and institutions.
Biden has suggested that several potential locations are in the running for the library, with Syracuse University and the University of Delaware—Biden’s alma maters—both expressing interest. The University of Pennsylvania, where four of Biden’s grandchildren and his late son Beau Biden studied, is also reportedly being considered as a host site.
This funding struggle is not an isolated instance; it echoes challenges Biden has previously faced in courting donors, including high-profile figures like Abigail Disney, who publicly withdrew support following Biden’s debate performance earlier this year.
The difficulty in gathering capital for the presidential library underscores a broader issue in Biden’s political sphere: building a donor base willing to make substantial, long-term investments in his legacy.
