Buffett to headline blockbuster Obama Chicago fundraiser
By Steven R. Strahler September 21, 2011
(Crain's) — Billionaire investor Warren Buffett is coming to Chicago to help raise money for President Barack Obama's re-election campaign at a $35,800-per-ticket fundraiser next month at the North Shore home of investment banker Byron Trott, according to a draft invitation.
The Oct. 27 event will be co-hosted by James Crown, Penny Pritzker, John Rogers Jr. and other major local donors who fueled Mr. Obama's first presidential campaign and are lining up to back him again. Mr. Obama is not expected to attend, according to Mr. Rogers, chairman of Ariel Investments LLC. Neither the Obama campaign nor Mr. Trott's spokeswoman had any immediate comment.
Mr. Buffett is doing the same honors for the Obama campaign and the Democratic National Committee later this month in New York, where he is the draw for a reception and dinner with tickets ranging from $10,000 to $35,800. Each event is expected to be moderated by Austan Goolsbee, a University of Chicago law professor and former chairman of the White House's Council of Economic Advisers in the Obama administration.
Mr. Trott, a former Goldman Sachs Group Inc. partner whom Mr. Buffett has called his favorite investment banker, isn't known as an outspoken Obama supporter. Over the years, Mr. Trott has donated to both Republican and Democratic candidates running for national office, according to campaign finance records.
Among his latest disclosed contributions, in June, was $2,500 to former Massachusetts Gov. Mitt Romney, who is seeking the GOP presidential nomination. During the last presidential campaign, Mr. Trott's donations were spread among Messrs. Romney and Obama, as well as Republican nominee John McCain.
In contrast Mr. Buffett, the Berkshire Hathaway Inc. chairman known as the Oracle of Omaha, has increasingly championed Mr. Obama — a relationship the Obama campaign has embraced, as the president seeks to raise taxes on the wealthy as part of a deficit-reduction plan.
Last month, Mr. Buffett wrote a widely discussed op-ed article in the New York Times, noting that his effective tax rate was lower than his secretary's.
After leaving Goldman in 2009, Mr. Trott formed his own investment firm, BDT Capital Partners LLC, which on Monday confirmed that it leads a group buying the Wrigley Building. |
