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They were revealed by Forbes magazine to be the highest earning couple of the past year and Jay Z and Beyonce are now set to be the biggest earners on New Years Eve too.

The mega mogul Jay, real name Shawn Carter, has signed up to perform at the the lavish launch party for the new Cosmopolitan Resort and Casino in Las Vegas kicking off on December 31.

And according to reports, he is being paid a staggering $1 million for the occasion

His wife of two years, Beyonce is also said to be making an appearance but is not, as yet confirmed to actually perform.

The event, which is taking place inside the brand new 2,995 bedroom hotel is being held for 2,500 invited guests.