A statue of Barack Obama and Michelle Obama outside the Obama Presidential Center in the Hyde Park neighborhood of Chicago, Illinois, on May 29, 2026.
Joshua Lott | Washington Post | Getty Images
The Obama Presidential Center, which opens in Chicago on Thursday, will celebrate former President Barack Obama’s legacy and his accomplishments. The star-studded event, featuring a speech from President Obama and performances from Stevie Wonder, Bruce Springsteen and Jennifer Hudson, is expected to be the largest gathering of donors, fundraisers and business leaders working with Democrats in the lead-up to the 2026 midterm elections.
“This is a celebration of Mr. Obama’s historic candidacy and a celebration of the extraordinary work he has done for our country,” said John Rogers, co-founder of Ariel Investments and a longtime Obama supporter who has donated to the center and will be attending the opening.
In addition to nostalgia, insiders are hoping to see sideline conversations among major donors, corporate leaders, political candidates and presidential hopefuls about fundraising and the future of the Democratic Party.
“People are going to talk about how important it is for us to take back the House and the Senate. They’re going to try to encourage all of us during a dire and discouraging time in this country and that it’s important for us to step up,” Rogers said.
The event will be a delicate balance between honoring the first black U.S. president at an impressive facility on the shores of Lake Michigan and looking to the political future of President Obama’s presidency.
Business leaders, former White House officials and donors to the center who spoke to CNBC said the message from the Obama Presidential Center was clear that the event and venue itself were not political.
Valerie Jarrett, a former senior adviser to the Obama administration and CEO of the Obama Foundation, points out that the new facility is officially nonpartisan because the foundation that runs the center is a registered nonprofit organization.
“We want people with different political ideologies and different perspectives on issues to come here and have healthy conversations, because that’s what a democratic society is about,” Jarrett told CNBC.
Charles Phillips, co-chair of the Black Economic Alliance, co-founder of the technology investment firm Recognize, and a donor to the center, shared similar sentiments.
“This is a reminder of the majesty of the presidency, because President Obama has held the office well and conducted himself in a manner that makes all Americans proud of him,” he told CNBC.
He also said the event will have a political component and will be a highlight for certain presidential candidates.
“For someone who’s thinking about running for president, it’s good to show up and get noticed and have someone shake your hand,” Phillips said. “It’s a good way to reach a lot of people at once because a lot of important people are there. It also reminds people that you’re there and can strengthen relationships.”
The launch could also give Democrats an opportunity to change the dynamics of their relationship with the business community, said Jeff Sonnenfeld, founder of the Yale CEO Institute. In his conversations with CEOs, Sonnenfeld said they are looking for ways to counter the country’s current political climate.
“They see this as an opportunity to restore national unity,” Sonnenfeld said. “No CEO wants voters pointing fingers at each other with angry veins bulging in their necks, and no CEO wants shareholders, employees, customers, and suppliers drawn into divisive partisan politics. They’re trying to get their businesses off the ground.”
Tony Coles, co-chair of the Black Economic Alliance, chairman of real estate and investment firm TRATE Enterprises, and board member of Regeneron, agrees that the business community is looking for a way out of partisan divisions.
“I’m a lifelong Democrat, but as a businessman, I recognize that the best ideas don’t have an ‘R’ or a ‘D’ on the end,” he said. “Those are just good ideas, and we should move towards really good ideas, because we have some big policy challenges in this country and we have a lot of Americans who really need help.”
A drone image of the Obama Presidential Center on June 3, 2026, weeks before it opened to the public in Chicago, Illinois.
Eric Cox | Reuters
But even that can be a double-edged sword. President Donald Trump has publicly criticized the Obama Center, and some CEOs may fear backlash from the current White House if they attend.
“We haven’t released the list of participants yet because people want to avoid criticism from President Trump for their attendance,” Sonnenfeld said ahead of the event.
A complete list of attendees has not been made public, but some details are known. President Trump, who is in France this week for the G7 summit, was not invited to the ceremony, but was invited to tour the facility.
Former Presidents Bill Clinton, George W. Bush and Joe Biden have all been invited, and former CNBC Vice President Kamala Harris is also expected to attend, according to sources.
Amazon founder Jeff Bezos has donated $100 million to the center and asked that the plaza be named after the late civil rights leader and Congressman John Lewis, but it is unclear whether he will attend.
microsoft, pepsico and nike The company did not respond to inquiries from CNBC about the attendance of its CEOs at the ceremony, which are among more than a dozen S&P 500 companies that have donated $1 million directly or through foundations.
Calvin Butler, CEO of utility company Exelon Corp., which donated $1 million to the center, said CEOs are focused on finding a balance in the current political climate.
“Having a presidential center in your home state promotes economic growth, promotes stability in your community, and leans into all the good things you do as a business leader, whether you’re a Republican or a Democrat,” said Butler, who has also focused on community development on Chicago’s South Side as CEO of the Chicago-based company. “Cooperation between Republicans and Democrats is essential. We make long-term investments. I’m making 30 to 40-year investments.”
Mike Murphy, co-director of the university’s Center for Political Futures, said the opening of the center is more than just a celebration, as CEOs consider these long-term investments, from controversial data centers to capital-intensive manufacturing hubs.
Republican strategist from Southern California.
“While this contest celebrates Mr. Obama’s accomplishments, it also questions the 2028 election,” Murphy said. “This is an opportunity for candidates to get noticed, impress people and find allies who will work with them, especially for fundraising. … This is whaling, and the whales are in the room.”
Gilbert Garcia, a managing partner at Garcia Hamilton & Associates and a “coordinator” for Democratic candidates, sees the opening of the Obama Presidential Center as a political turning point for the midterm elections, the 2028 presidential election and beyond.
“This will be an opportunity to boost the momentum of the Democratic Party,” he said. “There’s going to be a lot of people reliving the Obama presidency. There’s going to be a lot of people reliving the Obama presidency. I believe this is a real catalyst for Democrats across the country to generate all sorts of things, including big donations and significant personnel on the ground.”
