First Lady Jill Biden also is scheduled to attend the event.
Invites have gone out for the event, with tickets starting at $1,000 per person.
Those who contribute $25,000 and above will get access to a photo line.
Joe Biden at the White House on Tuesday.Photo by Drew Angerer/Getty Images
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This also will be the presidents first Hollywood-centric fundraiser since announcing his re-election bid.
With the strikes settled, the pace of fundraising is expected to pick up in Los Angeles.
That event was held at the home of attorney Cliff Gilbert-Lurie and Leslie Gilbert-Lurie.
Smith and Costos also hosted Bidens first Hollywood-centric fundraiser in the 2020 cycle at their home.
Smith redesigned the Oval Office during Barack Obamas presidency, and Costos served as U.S. ambassador to Spain.
