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Former President Barack Obama. Chip Somodevilla/Getty Images

The Democratic National Committee (DNC) is experiencingrecord-low fundraising. In May 2017, it raised the lowest amount since 2003, and April 2017 was its worst month since 2009. Instead of donating to the DNC, donors have been pouring millions into the Obama Foundation.

On July 14, the Obama Foundation released alist of donations categorized by the amount given. The list donors who gave at least $1 million include Silicon Valley billionaire John Doerr, Microsoft, LinkedIn Founder Reid Hoffman, Rahm Emanuels go-to guyMichael Sacks, the Exelon Corporation, AT&T and Nasdaq Director Glenn Hutchins foundation and theNew York Community Trust.

Hoffman and Mark Pincus, who donated over $250,000 to the Obama Foundation, recentlylaunchedWTF, a political organization that aspires to get people to vote online for policies, slogans and ads to turn into billboards around Washington, D.C. John Doerr also serves on the Obama Foundations Board of Directors, and in 2015 a sexual discrimination lawsuitfiledagainst him incited a national discussion on the rampant sexism and gender inequality in Silicon Valley. Robert Wolf, an Obama Foundation board member and former president of UBS,donatedover $250,000 to the Obama Foundation.Jonathan Lavine, co-managing partner of Mitt Romneys venture capital group Bain Capital, donated at least $750,000.

A spokesperson for theObamaFoundationtoldthe Chicago Sun-Times on July 14 that the organizations restrictions on donations would no longer be imposed now thatObamais out of office, freeing him from having to convey the image that he isnt cozy with corporate and Wall Street elites.

The Obama Foundations goal of securing and broadening Obamas legacy resembles theClinton Foundations. The Hillreportedthat the foundation is building a $500 million library. The foundation is runby Martin Nesbitt and Obamas former White House Political Director David Simas.

Obamasclose relationships with Wall Street bankers and Silicon Valley billionaires entrenched corporate power as a guiding principle in theDemocratic Party. Now that he is out of office, his courtship of the worldswealthiestpeople shows his worldview and true intentions. Though he was elected in part to rein in the corruption and greed that led to the 2008 economic recession, he now delivers highly paid speeches at Wall Street institutions. Additionally, while Wall Street received billions in bailouts during his administration, recovery never came for most Americans. The interests of billionaires and wealthy elites oppose those of the working and middle class, and its obvious who Obama sides with.

TheDemocratic Party nostalgically yearns forObama, but their obsessions blinds them to the political crises that his presidency either ignored or worsened. Under his leadership, the Democratic Partydevolved and lost thousands of elected offices around the country.Democratsrisk irrelevancy if they dont transcend this corporatist worldview and enact solutions to the problems that resulted in Donald Trumps presidency.

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Obama Rakes in Donors as Democrats Free Fall Into Irrelevance - Observer