Long ago, DJ Khaled mastered the skill of going all out in everything, especially on special occasions when he would give his pals gifts. The Miami-based record executive and producer gave Future, a frequent collaborator on projects, a Rolex Sky-Dweller watch for his 33rd birthday.

Khaled spent the weekend in Los Angeles to commemorate the release of his platinum-selling record Major Key and the publication of his new book, The Keys, which was also attended by a star-studded gathering. More surprises awaited Khaled when he was given a gold plaque.

On Khaled’s birthday, Future and Khaled swapped the diamond-encrusted watch—which can cost up to $40,000 on certain online retailers—while grinning, according to Khaled’s Instagram page.

Khaled recorded the conversation and uploaded it to Instagram. The pair appears in several photos, one of which features Future wearing the watch. Khaled was accompanied at the event by a number of superstars, including Mariah Carey, will.i.am, Nicki Minaj, Meek Mill, Nas, and L.A. Reid, the chairman of Epic Records.

The album “Major Key” by DJ Khaled is currently available. His next “Beast Mode 16” project, which features producer Zaytoven, is something fans should anticipate.