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Rommeliv
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tigerbeck
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mreevit
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Rommeliv
Would it be worth it to have the former President of the University I'm applying to write a letter of recommendation if he is only an acquaintance but has no actual knowledge of my work?

Not for the main recommendations on the application. If you are waitlisted however, his recommendation might be helpful.
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shmoopy
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Sounds like it won't help - a recommendation has to be from someone who worked closely with you/knows you well.
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Jerz
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Also you'll typically want recommenders who can speak to your work experience (or EC leadership) rather than academics (assuming you didn't work for the university). Getting former professors/school administrators is not viewed nearly as favorably.
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Izvos
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Rommeliv
Would it be worth it to have the former President of the University I'm applying to write a letter of recommendation if he is only an acquaintance but has no actual knowledge of my work?

One more no, man!

Let LOR to be written by someone, who knows you!!