On Tuesday, Jay-Z sent out VIP passes for an upcoming event, but these weren't just any invitations. The "99 Problems" rapper decided to send out gold Rolex watches that were each valued at approximately $40,000 instead of regular invites.

According to Page Six, the musician is getting ready for his inaugural Shawn Carter Foundation Gala. The black-tie affair, which will take place at the Seminole Hard Rock Hotel and Casino in Hollywood, Florida, will begin on Nov. 15. The weekend is scheduled to include "performances and a blackjack tournament with a $100,000 buy-in," per the publication.

One of the aforementioned performances will be given by Grammy Award-winning musician Alicia Keys on Nov. 16. The official Twitter account for Carter's foundation promoted the upcoming appearance in a tweet, which can be seen below.

Musicians Meek Mill and Swizz Beats were a couple of the recipients of the lavish gifts. Aside from the pricey timepieces, the mogul also sent bottles of Ace of Spades champagne, which go for about $300, to celebrate the upcoming gathering.

Proceeds from the event will go towards the musician's foundation, which helps provide college prep, scholarships, and more, according to Complex.

Jay-Z and Beyonce Jay Z and Beyonce are pictured attending the "China: Through The Looking Glass" Costume Institute Benefit Gala at the Metropolitan Museum of Art. Photo: Getty Images/Mike Coppola