Obama's presidential library reportedly needs $1.5 billion endowment

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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.

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