Obama's presidential library reportedly needs $1.5 billion endowment

Apparently the future Obama Presidential Center needs some cash.

According to Page Six, the Barack Obama Presidential Center in Chicago needs a $1.5 billion endowment.

Architects of the center say it will be tough to raise that amount of money, partly because the 44th president did not do a lot of fundraising while he was still in the White House.

The Obama Center will have both a presidential library and a museum that will encompass the lives of both Former President Obama and former first lady Michelle Obama.

And, because of federal requirements, former commanders in chief must have more money in the bank to pay for annual operating costs.

The $1.5 billion is three times the cost of the George W. Bush center in Texas.

11 unbelievable libraries
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11 unbelievable libraries

Admont Library
Admont, Austria

(Photo credit Samuel Kubani, AFP/Getty Images)

Philological Library
Free University of Berlin, Germany

(Photo credit Axel Schmidt, AFP/Getty Images)

Liyuan Library
Jiaojiehe, Beijing, China

(Photo credit Gu Xiaoguang, Getty Images)

John a Lasco Library
Emden, Germany

(Photo credit Matthias SüßenCC via Wikimedia Commons)

Stuttgart City Library
Stuttgart, Germany

(Photo via Shutterstock)

TEA Tenerife Arts Space
Santa Cruz de Tenerife, Canary Islands, Spain

(Photo credit Jeffrey Blackler, Alamy)

Book Mountain
Spijkenisse, Netherlands

(Photo credit William Veerbeek, Flickr)

Vennesla Library and Culture House
Vennesla, Norway

(Photo by View Pictures/UIG via Getty Images)

The Black Diamond, Royal Library of Denmark
Copenhagen, Denmark

(Photo by myLoupe/Universal Images Group via Getty Images)

Abbey Library of St. Gall
St. Gallen, Switzerland

(Photo via Shutterstock)

Jose Vasconcelos Library
Mexico City, Mexico

(Photo by View Pictures/UIG via Getty Images)


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