We now know another reason why Jay-Z turned on Occupy Wall Street. It’s hard to pretend to be part of the “99 percent” when you’re throwing lavish fundraisers for the president.

Jay-Z and wife Beyoncé will host a fund-raiser for President Obama at the “Watch the Throne” rapper’s 40/40 Club on Sept. 18. We hear the event will be intimate and capped at 100 guests who will shell out $40,000 per ticket to dine with the commander-in-chief and hip-hop royal.