Jay Z's stylist, June Ambrose, decided to reveal on Instagram today that her client will be on the cover of Vanity Fair's upcoming issue.

Hova, who recently announced an upcoming collection with Barneys New York, continues to step up his fashion game on the cover of the magazine, rocking a white suit and black bow tie.

Stay tuned for the full magazine cover and interview excerpts.

[Update: Full Cover Added]

Take a look at the official cover in the gallery above. Magazine hits newsstands in New York and Los Angeles on 1/10 and nationally on 8/10.

[Update: Check Out Interview Excerpts]

In Jay's interview with Vanity Fair the rapper discusses his drug-dealing past, his daughter Blue Ivy and her taste in music, Beyonce and more. Check out excerpts from the magazine below.

On drug-dealing past & childhood:

We were living in a tough situation, but my mother managed; she juggled. Sometimes we’d pay the light bill, sometimes we paid the phone, sometimes the gas went off. We weren’t starving—we were eating, we were O.K. But it was things like you didn’t want to be embarrassed when you went to school; you didn’t want to have dirty sneakers or wear the same clothes over again.

[My mom knew I sold crack] but we never really had those conversations. We just pretty much ignored it. But she knew. All the mothers knew. It sounds like ‘How could you let your son . . . ’ but I’m telling you, it was normal

[I didn't feel guilty about selling crack] until later, when I realized the effects on the community. I started looking at the community on the whole, but in the beginning, no. I was thinking about surviving. I was thinking about improving my situation. I was thinking about buying clothes.

On Blue Ivy:

She does like her mother’s music — she watches [Beyoncé’s concerts] on the computer every night. But my album came out and I don’t know if Blue ever heard any of my music prior to this album — she’s only 18 months old and I don’t play my music around the house. But this album was new, so we played it. And she loves all the songs. She plays a song and she goes, ‘More, Daddy, more . . . Daddy song.’ She’s my biggest fan. If no one bought the Magna Carta [album], the fact that she loves it so much, it gives me the greatest joy. And that’s not like a cliché. I’m really serious. Just to see her — ‘Daddy song, more, Daddy.’ She’s genuine, she’s honest, because she doesn’t know it makes me happy. She just wants to hear it.

On Barack Obama's 2008 election:

 [It] actually renewed my spirit for America. It was like, Oh, wow, man, this whole thing about land of the free, home of the . . . it’s, like, real—it’s going to happen, everyone’s getting to participate in it. But growing up, if you had ever told a black person from the hood you can be president, they’d be like, I could never . . . If you had told me that as a kid, I’d be like, Are you out of your mind? How?

On Forbes' estimate of his net worth ($500 million):

[It's a] guesstimate. I’m not motivated by that. . . . I don’t sit around with my friends and talk about money, ever. On a record, that’s different.

On rumors that Beyonce had a surrogate:

 I don’t even know how to answer that. It’s just so stupid. You know, I felt dismissive about it, but you’ve got to feel for her. I mean, we’ve got a really charmed life, so how can we complain? But when you think about it, we’re still human beings. . . . And even in hip-hop, all the blogs—they had a field day with it. I’m like, We come from you guys, we represent you guys. Why are you perpetuating this? Why are you adding fuel to this ridiculous rumor?