Obama Center brings Democratic politicos to Chicago ahead of elections

The opening of the Obama Presidential Center in Chicago on Thursday will be a celebration of former President Barack Obama’s legacy and accomplishments. The star-studded event, which will include a speech by Obama and performances by Stevie Wonder, Bruce Springsteen and Jennifer Hudson, is expected to be the largest gathering of donors, fundraisers and business leaders aligned with the Democratic Party ahead of the 2026 midterm elections.

“This is a celebration of Obama’s historic candidacy and the extraordinary work he has done on behalf of our country,” said John Rogers, co-founder of Ariel Investments and a longtime Obama supporter who has donated to the center and will attend the inauguration.

Adding to the nostalgia, insiders expect sideline conversations about fundraising and the future of the Democratic Party among big donors, business leaders, election candidates and hopefuls for the next presidential term.

“People will be talking about how important it is for us to take back the House and the Senate, trying to encourage us all that it’s important to take action during this kind of bleak and discouraging time in our country,” Rogers said.

The event will be a delicate balance between celebrating the legacy of the first Black U.S. president at a stunning resort on Lake Michigan and looking at the political future of what Obama stood for while in office.

Business leaders, former White House staffers and donors to the center who spoke to CNBC say it’s clear that the message from the Obama Presidential Center, the event and the site are not political.

Obama Foundation CEO Valerie Jarrett, a former senior advisor to the Obama administration, said the foundation will manage the center., Although a registered nonprofit, the new facility is officially nonpartisan.

“We want people from different political ideologies and different perspectives on issues to come here and have a healthy conversation because that’s what a democratic society is,” Jarrett told CNBC.

Charles Phillips, co-chairman of the Black Economic Alliance, co-founder of tech investment firm Recognize, and donor to the center, shared a similar sentiment.

“This is a reminder of the dignity of the office of the presidency, because President Obama has presided over that office well and conducted himself in a way that all Americans can be proud of,” he told CNBC.

He also said the event’s political implications would make it a must-see for some presidential hopefuls.

“Anyone who is considering running for president would do well to put their face out there and be seen, shake some hands,” Phillips said. “It’s a good way to reach a lot of people at once because a lot of important people will be there and you can remind people that you’re there and build the relationship.”

This launch could also provide an opportunity for the Democratic Party to change the dynamics of its relationship with business, according to Jeff Sonnenfeld, founder of Yale University’s Chief Executive Leadership Institute. Sonnenfeld says that in his meetings with CEOs, they are looking for any counterbalance to the current political climate in the country.

“They see this as an opportunity to restore national unity,” Sonnenfeld said. he said. “No CEO wants their constituents pointing at each other with angry veins on the back of their necks; they don’t want shareholders, employees, customers, suppliers to be caught up in divisive partisan politics. They’re trying to steer their business to the middle of the road.”

Tony Coles, co-chairman of the Black Economic Alliance, president of real estate and investment firm TRATE Enterprises, and board director of Regeneron, agrees that the business community is looking for a way out of the partisan divide.

“I’ve been a Democrat all my life, but as a business person I’m aware that there’s no ‘R’ or ‘D’ behind the best ideas,” he said. “These are just good ideas, and we should go for the really good ideas because we have some big policy challenges in this country, and a lot of Americans really need help.”

But even this can be a double-edged sword. President Donald Trump has publicly criticized the Obama Center, and some CEOs may worry about the reaction from the current White House if they join.

“They’re not advertising the list of attendees yet because people want to avoid Trump’s accusations for attendance,” Sonnenfeld said ahead of the event. he said.

Although the full list of participants has not been disclosed, some details are known: Trump, who has been in France at the G7 summit this week, was not invited to the ceremony but has been invited to tour the facility.

Former Presidents Bill Clinton, George W. Bush and Joe Biden have been invited, and sources tell CNBC former Vice President Kamala Harris is also expected to attend.

Amazon founder Jeff Bezos donated $100 million to the center and wanted the plaza to be named after the late civil rights leader and congressman John Lewis, but it is unclear whether he will participate.

Microsoft, PepsiCo And Nike It is among more than a dozen S&P 500 companies that donated $1 million directly or through a foundation and did not respond to CNBC’s questions about their CEOs attending the ceremony.

CEOs are focused on finding balance in the current political environment, says Calvin Butler, CEO of Exelon, a utility that donated $1 million to the center.

“A presidential center in your home state stimulates economic growth, community stability, and as business leaders, whether you’re a Republican or a Democrat, you tend to do all the good,” said Butler, who also focuses on community development on Chicago’s South Side as CEO of the Chicago-based company. “It is important to work with Republicans and Democrats. We make long-term investments. I make investments for 30-40 years.”

While there are CEOs looking to make such long-term investments, ranging from controversial data centers to capital-intensive manufacturing facilities, the center’s opening is more than just a celebration, according to Mike Murphy, co-director of the University’s Center for the Political Future.
Southern California and a Republican strategist.

“This is a beauty pageant that’s as much about the 2028 election as it is about Obama’s legacy,” Murphy said. “This is an opportunity for candidates to be seen, to influence people, and to find allies to help, especially with fundraising. … This is a whaling hunt, there are whales.”

Gilbert Garcia, managing partner of Garcia Hamilton & Associates and a “packer” for Democratic candidates, sees the opening of the Obama Presidential Center as a political turning point for the midterms, the 2028 presidential election and beyond.

“This will be a catalyst for momentum for the Democratic Party,” he said. “I believe there will be a lot of people who will relive the Obama Presidency. I believe it will be a real catalyst for significant donations, significant manpower on the ground, and everything for Democrats all over the country.”