Erin Strecker
September 11, 2012 AT 06:21 PM EDT

Jay-Z and Beyonce will host an exclusive fundraiser for President Obama next week, EW has confirmed.

The New York Post first reported the news. The paper states that the $40,000-per-ticket event will take place at Jay-Z’s 40/40 Club Sept. 18 and will be capped at 100 guests. It will be Obama’s last fundraising event in New York before the election.

This isn’t the first time the music icons have declared their love for the Obamas. Over the summer, Beyoncé filmed an ad for President Obama’s re-election campaign, reading a letter talking about how much she admired The First Lady. She also recorded a video for Mrs. Obama’s initiative, “Let’s Move.”

Read more:

Dr. Dre earns more than Jay-Z and Kanye West combined

Jay-Z and Pearl Jam play ’99 Problems’ at Made in America Fest

Beyonce reads letter for Michelle Obama — VIDEO

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