President Joe Biden hits Chicago on Monday afternoon to headline a downtown high-dollar fundraiser for his re-election campaign, estimated to raise about $2.5 million.
According to a copy of the invitation, obtained by the Chicago Sun-Times, the fundraiser hosts are Michael Sacks and his wife, Cari, and Laura Ricketts and her wife, Brooke. The money will go to the Biden Action Fund, a joint fundraising committee consisting of the Biden for President operation and the Democratic National Committee. A campaign source estimated the $2.5 million haul.
Sacks, chairman and chief executive of GCM Grosvenor, is a major Democratic donor and fundraiser and the leader of the Democratic National Convention’s Chicago Host Committee. The city pledged, as part of its winning bid, to raise at least $84.697 million, with the aim now to collect between $90 million and $100 million for the August convention where Biden will be nominated for a second term.
Ricketts, also a significant Democratic donor and fundraiser, is a co-owner of the Chicago Cubs and is part of the Chicago Sky ownership team.
The Biden campaign finance chair is Michael Pratt, who is based in Chicago. About 25 to 30 people are expected at the Monday event.
The Monday event to fuel Biden’s re-election bid is separate from fundraising conducted for the Chicago host committee. The host committee is looking for big contributions from corporations and unions — entities banned from donating to federal campaigns — as well as wealthy individuals — to finance the convention.
Biden heads to Chicago from Madison, Wisconsin, a battleground state, where he will deliver a speech about “lowering costs for Americans,” according to the White House. The president will return to the White House on Monday night.
Biden was in Chicago on June 28 for a fundraiser to benefit his re-election campaign hosted by Gov. J.B. Pritzker and his wife, M.K.
