Obama holds fundraiser at Magic Johnson's home in Los Angeles

President Barack Obama was in Los Angeles Monday for private fundraisers, including one at basketball star Magic Johnson's home, rubbing elbows with Hollywood stars like Diane Keaton and Tom Hanks.

The president, on a three-day West Coast tour largely dedicated to campaign fundraising, was due at the home of the five-time NBA champ long with the Los Angeles Lakers, a US official said.

An estimated 160 people are expected at Johnsons' home for the event where supporters have paid $2,500 to $15,000 a plate to pad the Democratic Party's war chest ahead of November 2014 midterm elections.

Keaton and fellow actor Samuel L. Jackson were due to attend, the Democratic official said.

In addition, about 120 people -- including Hanks, producer Berry Gordy, actor Paul Reiser and philanthropist Eli Broad -- donated $16,200 a plate for another event at the home of Haim Saban.

On Tuesday, the president was due to give an address on the economy at DreamWorks Animation.

Its chief Jeffrey Katzenberg is one of Obama's staunchest supporters and financial backers.

He helped rally Hollywood's elite to donate about $15 million to Obama's reelection campaign in 2012 at an event at the home of Oscar-winner George Clooney.