*George Clooney’s May 10th fundraiser for President Barack Obama’s reelection campaign has officially sold out and is expected to raise up to $12 million, campaign sources tell The Hollywood Reporter, making it the biggest presidential fundraiser in U.S. history.

Among the 150 high rollers on the guest list are Hollywood studio heads, celebrities and an array of entertainment industry execs, each shelling out $40,000 to break bread with the president at Clooney’s Studio City home. DreamWorks Animation chief Jeffrey Katzenberg, the president’s major entertainment industry fundraiser, has been spearheading the event along with Hollywood political consultant Andy Spahn.

The dinner will bring in between $5 million and $6 million for the president’s campaign coffers, sources told THR. The demand for tickets at the event was so great that organizers tried to limit the guest list to those living in Southern California.

The Obama for President campaign also has been conducting an online sweepstakes with the winner to receive two seats at the head table with the chief executive and Clooney. Campaign sources tell The Hollywood Reporter that that tally of online donations could hit $6 million, bringing the total raised to about $12 million. The winner of the contest is expected to be announced by the campaign in the coming days.

After the Clooney event, Obama is expected to be back in Los Angeles on June 6 for a LBGT gala. Pink is scheduled to perform at that event, organizers say, with donations ranging from $1,250 to $25,000.