is being paid $1 million for performing at a New Years Eve party (31.12.10).
The rapper - who is reported to be attending the event with his superstar wife Beyonce Knowles
- is set to receive the huge sum to entertain guests at the lavish launch for the new Cosmopolitan Resort and Casino in Las Vegas.
British band Coldplay
are also said to be playing at the $4 billion resort, with frontman Chris Martin
bringing his own famous guest in the shape of wife Gwyneth Paltrow.
Chris will join Jay-Z in the line-up to perform in front of 2,500 partygoers at the 2,995-bedroom hotel.
However, 'All the Single Ladies' hitmaker Beyonce, and 'Country Strong' actress Gwyneth, who also sings, won't be joining their husbands on stage.
Jay-Z's $1 million gig will be just a drop in the ocean for him and his wife, who were named the highest-earning couple in showbusiness last year, earning $100 million between them from June 2008 to June 2009.
They beat a number of other heavyweight couples, including Brad Pitt
and Angelina Jolie, who were worth $50 million, and David and Victoria Beckham, who raked in $45 million.