Sources inside the White House tell The Chronicle that President Donald J. Trump‘s youngest daughter, Tiffany Trump, plans to launch a yet-to-be-established foundation intended to fundraise more than $1 billion to construct and manage The Donald J. Trump Presidential Library. Ms. Trump is a recent graduate of Georgetown Law School and the University of Pennsylvania.
It’s unclear if the library will be located in New York City or in Palm Beach, Florida.
Trump supporters have long argued that his presidential library should be located either inside Central Park, adjacent to Wollman Rink, or in the first several floors of Trump Tower on 5th Avenue. Many believe that a Central Park location would make the library one of the most popular tourist attractions in the entire city — perhaps even attracting more guests than the Metropolitan Art Museum’s 7.4 million annual visitors.
The impact that such an institution can have in shaping Trump’s legacy and presence in the national consciousness could be significant. While presidential libraries are free and open to the public, it’s thought that President Trump’s library will pursue merchandising opportunities and feature vastly more interactive exhibits than his predecesseors. Selling, perhaps, 2 million hats each year at $20 each would yield a $40 million operating budget for programming and special events, the source notes.
Presidential libraries are built with privately fundraised donations. Their operating budget is federally funded, but most libraries are managed by a University of that president’s choosing, a private foundation he establishes for that purpose, or by default, by the National Archives and Records Administration (NARA).
It’s widely expected that Trump will seek reelection to the presidency in 2024. An early announcement is expected to accelerate fundraising efforts for the library.