https://archive.vanityfair.com/article/2000/1/clintons-midas-king
You probably know,” says Terry McAuliffe, thumping the arms of his chair at the Oval Room, a restaurant two blocks north of the White House, “I come here a lot. This used to be George’s table.” He’s sitting in the see-and-be-seen chair, the one everyone has to pass on the way into the main dining room. He doesn’t have to spell out that he’s referring to George Stephanopoulos, former media favorite and adviser to President Clinton. “Yeah,” he says, in case you missed the point. “Old George is kind of out of favor now, and I’m in.”
So this is the first clue to how a man becomes what Vice President A1 Gore has called “the greatest fund-raiser in the history of the universe”: it’s not about subtlety. “I’m one of the few fighters in the party,” McAuliffe likes to say. “I think that’s one of the reasons the president loves me. I’m the only one around with any you-know-what.”
Terry McAuliffe can afford to crow. After two decades at the slippery peak of a pursuit most men tire of after two or three election cycles, McAuliffe is the acknowledged master at separating political donors from their money. He is, at 42, a self-made multimillionaire, with a fortune that may reach into nine digits. And, icing on the cake, he has achieved the official role of First Friend to the president, a status sealed during the fall when he posted collateral of $1.35 million in cash to help the Clintons buy their new house in Chappaqua, New York.
The Clintons’ reliance on a private benefactor, especially one as controversial as McAuliffe, raised so many questions that they went on to arrange a different form of financing, without McAuliffe’s help. But the home-financing deal was, in the scheme of things, a drop in the bucket of Bill Clinton’s debt to McAuliffe, the culmination of one of those instructive Washington symbioses: between a man who calls himself “the king of money” and a man whose flirtations with personal and political disaster have made him more financially needy than any other president in memory. “The feeling I had is, the one guy, if he did this, that they couldn’t criticize [by saying] he was going to get something out of it was me,” says McAuliffe. “Because I was so far into everything. I mean, what’s the president going to do, give me another round of golf?”
The “everything” that McAuliffe has been “into” has included: leading the fundraising effort for Clinton’s 1996 campaign, at a time when many other Democrats were writing him off as a one-term president; chairing (and raising money for) his 1997 inaugural; raising nearly $7 million for the president’s legal-defense fund (“I am the fund-raiser for it. I raise all the big checks,” he says); raising money for Hillary Clinton’s Senate campaign (“I put her whole money team together…. I made 50 calls for her this weekend…. I love old Hillary!”); raising money for the president’s future library, budgeted to cost more than $125 million; and rounding up corporate sponsors for the administration’s planned millennium celebration on the mall.