First-time father-to-be Jay-Z knows how lucky he is and how important it is to give back to young people.
The rapper hosted a charity carnival last night in NYC, attended by such famous friends as A-Rod. Jay dished on becoming a dad, how he's helping kids afford college and why he's still hoping Obama gets reelected...
As for expanding his family with Beyoncé, Jay is just as stoked as she is.
"I'm excited! I think that is pretty easy," he told reporters at Pier 54 last night. He was also excited about being able to share his success with others. "Someone emailed me this morning and said 'Some people climb the ladder and grab the ladder. And some people pull more people up the ladder and you are a person who pulls more people up the ladder.' I was very humbled by that," Jay shared.
The Shawn Carter foundation provides full scholarships to kids who can't afford college on their own.
"If you want to be lazy, that's a different thing. But if you apply yourself and do everything that you have to do to get to a certain point and can't go further because of your financial situation, I think that is a shame," he said.
Speaking of money, Jay said he may move to Brooklyn like his basketball team, the New Jersey Nets...if he can afford it!
"I have been thinking about it, but the prices over there are really high," he laughed. "It's not like before!"
The mogul also shared that he's still rooting for Obama to get reelected but admits he's got his work cut out for him.
"I still think he is the best man for the job," he explained. "Yes, I think he got a raw deal and a bad economy. You wouldn't be given anything you can't handle so he must be really special, because he has a lot of work to do!"