Obama Fundraiser: Jay-Z, Beyonce Raise Big Bucks for Re-Election Campaign

Jay-Z and Beyonce have not had any qualms about their political affiliation. The hip-hop and R&B power couple have been strong Obama supporters since last election. In order to give the president's campaign a boost, Jay and Bey threw a fundraiser to raise money and support for the Democratic campaign Tuesday night (Sept. 18).

For the evening, 100 VIP guests gathered at Manhattan's 40/40 club -- owned by Hov -- to attend the exclusive fundraiser. With each guest shelling out $40,000 to attend, the event generated $4 million for Obama's re-election campaign.

Beyonce, stunning in a red cocktail dress, introduced Obama, saying, "I can't tell you how proud we are to host tonight's event with President Obama. We believe in his vision." Obama joked with the audience that his wife and daughters were jealous they weren't able to attend.

He also claimed he and Jay-Z had a lot in common. "We both have daughters and our wives are more popular than we are," he joked. "So, you know, we've got a little bond there. It's hard but it's OK."

President Obama went on to thank Jay-Z and Beyonce for all their support. "To Jay and B, thank you so much for your friendship," he said. "Beyonce could not be a better role model for our daughters because she carries herself with such class and poise and has so much talent."

Watch Beyonce's "Single Ladies (Put a Ring On It)" Video

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