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Obama makes Bay Area fundraising trip

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President Barack Obama arrived in the Bay Area Wednesday for a two-day fundraising trip, during which he will hope to raise at least $3 million in campaign donations for the upcoming presidential election, according to the Wall Street Journal.

The president attended a fundraiser Wednesday evening at a private Atherton home. The $35,800-a-plate dinner was attended predominantly by Silicon Valley executives, as well as some prominent figures from other industries, such as actor Don Cheadle.

The President subsequently attended a larger event Wednesday evening at Redwood City’s Fox Theatre, before continuing his campaign schedule today in San Jose. His trip marks the first time that Obama has visited the Bay Area since September, and may — according to an invitation for yesterday’s event — “be his last visit there this cycle.”

Obama’s trip comes amidst concerns that Silicon Valley executives have lost faith in his administration and have instead donated heavily to Republican candidate Mitt Romney. Obama has raised $2.6 million from the technology industry this election cycle, as opposed to $3.5 million at this point in 2008, but has still outraised Romney in absolute terms.

By contrast, Romney’s experience in venture capital appears to have won over some technology executives, a fundraising inroad he will hope to reinforce with a West Coast fundraising trip scheduled for next week.

— Marshall Watkins

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