JAY-Z AND BEYONCE: Obama Fundraiser Tonight

Jay-Z and Beyonce are set to host a lavish fundraiser for President Obama tonight at Jay's 40/40 club in New York. Tickets to the event, which is expected to draw around 100 people, are $40,000 a head. 

The fundraiser till take place in the shadow of a a special 18-foot tower of Ace-of Spade bottles that Jay recently had constructed in the nightclub.

Before hitting the party, President Obama will tape an appearance on David Letterman.