Jay Z celebrated his first EVER Father's Day . . . with his wife Beyonce. So what could she give him . . . he already has MULTIPLE HOMES . . . multiple CARS . . . and TONS of expensive jewelry.

Well a MediaTakeOut.com insider tells us that Beyonce bought Jay Z the true BALLER GIFT . . . a PRIVATE JET!!!

According to our snitch, Bey bout her HIP HOP MOGUL hubby a brand new Bombardier Challenger 850. The jet, we're told cost about $40 MILLION. It has a living room, a kitchen, a bedroom . . . and TWO FULL BATHROOMS.

Dang, Jay and By are taking things to a whole 'NOTHER level!!

Read the Full Story and see more photos at Mediatakeout.com!