The event will feature hundreds of big names, including Prince Harry and Chance the Rapper, are scheduled to speak and perform.
The summit is the second in a series of events created by the Obamas. The first was the foundation's Chicago Training Day, where young participants strategized to solve community problems.
Obama made a surprise visit to the training day event earlier this month. He listened to each group tackle an issue and present a solution.
Obama told the group: "I'm really excited about what you're going to be doing. You are going to change the world."
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