Money Stunna
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- Aug 9, 2011
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Former President George W. Bush has raised more than $500 million for his presidential library, making him one of the most successful post-presidency fundraisers, Time Magazine reported Wednesday.
According to Time, numerous sources close to the former president -- including Mark Langdale, president of the George W. Bush Presidential Center -- have confirmed that fundraising for the library has surpassed the $500 million mark, a goal that Bush wanted to reach prior the centers dedication ceremony later this month.
Bushs multi-million dollar fundraising feat is significant because no former president has raised as much in the same four-year timeframe after leaving the White House. In comparison, former President Bill Clinton raised funds at a much slower rate to support his $165 million library project.
The amount raised for the George W. Bush Presidential Center -- which is located at Southern Methodist University in Dallas, Texas -- has also surpassed the funds raised in either of Bushs 2000 and 2004 presidential campaigns, according to Time.
The $500 million in contributions from private, undisclosed donors will be used to cover various short- and long-term expenses associated with the project, Langdale told Time.
Half of the money was spent to build the Bush Center itself, a portion of the funds go to a mandatory endowment to the Federal Government ... and another portion of the funds will go to Southern Methodist University for [an] endowment that is intended to strengthen our relationship with their programs, Langdale explained.
The remainder of the funds, most of which is paid for over time [sic] in long term pledges, provides a strong financial foundation to build the George W. Bush Institute as a long standing contributor to advancing freedom and the principles that have guided President and Mrs. Bush in their service to their country, Langdale added.
The library -- which Bush dubbed as a place of learning -- will also house numerous archives symbolic of the Bush presidency.
According to Time, numerous sources close to the former president -- including Mark Langdale, president of the George W. Bush Presidential Center -- have confirmed that fundraising for the library has surpassed the $500 million mark, a goal that Bush wanted to reach prior the centers dedication ceremony later this month.
Bushs multi-million dollar fundraising feat is significant because no former president has raised as much in the same four-year timeframe after leaving the White House. In comparison, former President Bill Clinton raised funds at a much slower rate to support his $165 million library project.
The amount raised for the George W. Bush Presidential Center -- which is located at Southern Methodist University in Dallas, Texas -- has also surpassed the funds raised in either of Bushs 2000 and 2004 presidential campaigns, according to Time.
The $500 million in contributions from private, undisclosed donors will be used to cover various short- and long-term expenses associated with the project, Langdale told Time.
Half of the money was spent to build the Bush Center itself, a portion of the funds go to a mandatory endowment to the Federal Government ... and another portion of the funds will go to Southern Methodist University for [an] endowment that is intended to strengthen our relationship with their programs, Langdale explained.
The remainder of the funds, most of which is paid for over time [sic] in long term pledges, provides a strong financial foundation to build the George W. Bush Institute as a long standing contributor to advancing freedom and the principles that have guided President and Mrs. Bush in their service to their country, Langdale added.
The library -- which Bush dubbed as a place of learning -- will also house numerous archives symbolic of the Bush presidency.
