It all went down a J's 40/40 Club in New York City, where attendees had to pay a whopping $40,000 just to get in! (Get all of the deets in the video above!)
Beyonce greeted the guests and President Obama later gave a speech where he compared himself to Jay-Z saying that the two of them have wives and kids more famous than them. He also said that Beyonce is an awesome role model for Sasha and Malia!
This isn't the Obamas first rendezvous with the Carters... Beyonce sang at President Obama's inauguration ball and Michelle Obama was spotted a few years ago getting her dance on with her daughters at one of Beyonce's concerts in Washington D.C.
Do you believe celebs should use their fame to influence politics?
And really, do you think the Obamas and Carters hang out on a regular basis?...because that would be awesome and would DEF beat hanging with Kim Kardashian and Kanye West any day!