The Insider.com

Jay-Z announced this morning that he'll host the first ever hip hop concert series at New York City's prestigious Carnegie Hall, all in the name of charity.

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Proceeds from the shows, which will be held at the renown concert hall February 6 and 7 in 2012, will go towards Jay-Z's Shawn Carter Scholarship Foundation. The monies earned will help benefit at-risk and low-income students in New York's public school system.

The charity, founded by Jay and his mother Gloria in 2003, is something the rapper holds dear to him since its inception. "My mom would get on the bus and tour colleges with students," Jay-Z said. "We really started it at a grassroots level, and now we're trying to organize it at this level and have it make sense."

The promise of an intimate performance from one of hip hop's biggest names does make sense in the fact that many faithful fans will undoubtedly show up, proving the venture to be a win-win for everyone involved. Private ticket packages will go on sale starting Monday, December 12, with prices starting at $500 to $2,500. A limited-number of low priced single admission tickets will become available to the public January 30. With no special guests to appear, Jay definitely looks at this opportunity for him to personally help give back to the city that raised him.

"I'm a lucky person, I had a talent to do something I really love and it took me to places I thought I'd never be," the hip hop mogul said. "But my story is an anomaly. I'm just providing opportunity for those that want to further their education and be successful, that's important to me."