09/11/2012 02:13 pm ET

Jay-Z & Beyonce's Obama Fundraiser: Hip-Hop's Royal Couple Will Host President At 40/40 Club

Further evidence Jay-Z and Beyonce are hip-hop royalty: The couple will host Barack Obama at Jay's own 40/40 Club.

The president is stopping by for a dinner, where Page Six reports he'll be joined by 100 friends who will have each paid $40,000 for the honor.

The couple's friendship with Obama goes all the way back to the president's inauguration. Jay-Z and Beyonce performed at a tribute concert honoring the newly elected commander-in-chief on the night before Obama took his oath of office.

Just one week ago, the president appeared in a video clip which opened Jay-Z's set at the Made In America festival in Philadelphia. Obama implored the crowd to vote and said he is a fan of the rapper's music.

Beyonce has also been involved with the Obama campaign. After a letter Beyonce posted on her blog went viral, the campaign tapped her to read the note -- an appreciation of Michelle Obama -- in a web video. The singer, flanked by both Tina Knowles and Jay-Z's mother, also attended a March fundraiser hosted by Michelle Obama.

The 40/40 fundraiser was scheduled for the evening of Sept. 18. For more information, head over to Page Six. More stars and politics below.

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