Obama: Jay-Z ‘knows what my life is like’

President Barack Obama, speaking at an exclusive New York City fundraiser, said late Tuesday that jet-setting hip-hop megastar Jay-Z "knows what my life is like."

Obama was addressing about 100 people who paid $40,000 for a chance to hear from him up close at the 40/40 Club — an event hosted by Jay-Z and his wife Beyoncé.

"Beyoncé couldn't be a better role model for our daughters because she carries herself with such class and poise and has so much talent," the president said.

"And Jay-Z now knows what my life is like: We both have daughters, and our wives are more popular than we are," Obama said to laughter and applause. "So we've got a little bond there. It's hard, but it's okay."

The president joked that daughters Malia and Sasha were "mad at me" because they were in Washington — rather than with one of music's top power-couples.

Beyoncé, wearing a red cocktail dress, and Jay-Z, in a suit, introduced Obama with a few brief remarks. "We believe in his vision," she said.