Hot on Facebook

Guy Buys $123 Safe on eBay, Finds $26,000 Inside Seller tries to get half the cash back, fails »

Top Black Donors Emerge as New Force

Business leaders see parallel of their own rise in Obama

By Jason Farago, Newser Staff

Posted Aug 29, 2008 7:27 AM CDT

(Newser) – Barack Obama's rise to the top of the Democratic Party has a special resonance for one group: African-American business leaders who, like the candidate, were among the first blacks to enter into all-white industries. As the New York Times reports, black lawyers, bankers, and corporate titans see in Obama an echo of their own climbs—and are expressing their excitement by raising millions for the campaign.

Obama's top fundraising circle includes 57 African-Americans, each of whom has committed to raising $250,000 from their business networks. And while most of them are new to Democratic fundraising, they stand to become a major force in the party—several have begun raising funds for politicians who endorsed Obama early in the campaign.

[Images (3)]

[Quotes (1)]

Sen. Barack Obama, D-Ill., and senior adviser Valerie Jarrett, foreground, leave St. Marks United Church of Christ after a church services in Lebanon, Pa., Sunday, April 20, 2008. (AP Photo/Jae C. Hong)

Democratic presidential candidate, Sen. Barack Obama, D-Ill., speaks at a fundraiser in New York, Wednesday, July 9, 2008. (AP Photo/Seth Wenig)

Democratic presidential candidate Sen. Barack Obama, D-Ill., speaks to a crowd of supporters during a campaign fundraiser at the Mansion nightclub in Miami Beach, Fla., Saturday, Aug. 25, 2007. (AP Photo/David Adame)

« Prev« Prev | Next »Next » Slideshow

There's a sense of not only pride but of a point in the culture we're a part of, the society we're a part of, that this is different. - Gordon Davis, partner at Dewey & LeBoeuf and a leading Obama fundraiser

« Prev« Prev | Next »Next » Slideshow

To report an error on this story, notify our editors.

More Newser Stories

Black Kids Think Big Thanks to Obama

New York's black children dream of becoming president

(NEWSER) - Barack Obama made more than history when he won the election this week: He also inspired black school kids to believe they could do the same, the New York Daily News reports. "It means people can be anything they want," says 9-year-old Elijah Timmons, who sees himself in the Oval Office one day. "Instead of 'Obama! Obama!' they're going to be yelling 'Elijah! Elijah!'" More»

Yeah, She Made History—What About the Guy Who Won?

DNC skirts around Obama's breakthrough

(NEWSER) - Last night's Hillaryfest was the culmination of a months-long homage to the New York senator's "historic" achievement of almost winning a major party's presidential nomination. But it's odd, notes Alessandra Stanley, that while an "also-ran" has made her candidacy a milestone, there's been little mention of the "arguably more remarkable breakthrough" of the man who actually won the primary. More»

Jesse Jackson Jr.: Obama's Like Jackie Robinson

Candidate has to endure jeers with a smile, can't strike back

(NEWSER) - Barack Obama is like Jackie Robinson: he’s got to perform despite racist taunts, Rep. Jesse Jackson Jr., son of the civil-rights leader, said during a Politico-sponsored panel discussion today ahead of the Democratic convention. Like the baseball pioneer, Obama “has to keep smiling,” in the face of vicious rumors “because no one wants an angry African American in the White House,” Jackson said. More»

It's Not Race That's Holding Him Back

Blaming white voters will only be counterproductive, says Bai

(NEWSER) - Barack Obama goes into this week's convention in Denver with only the slimmest of leads—or, as some polls suggest, trailing John McCain. In a year when it's widely assumed that any Democratic candidate should be a shoo-in, many in the press have suggested that Obama's race is costing him support. Not so, writes Matt Bai in the New York Times, who says that the candidate "faces genuine obstacles that are more salient than skin color." More»

Racial Divide Persists Despite Obama: Poll

Racial attitudes have barely budged despite groundbreaking run

(NEWSER) - Barack Obama's often hailed "post-racial" run for the White House is, in fact, unfolding in an America still sharply divided by race, a New York Times/CBS News poll has discovered. The lives of most Americans are as racially segregated as they were 8 years ago, the poll says. Black and white Americans differed on almost every question on race relations—although both agreed America is ready for a black president. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Top Black Donors Emerge as New Force