Watch live: President Obama meets Donald Trump at White House

President Obama is set to meet with President-elect Donald Trump at the White House on Thursday.

Obama will welcome his successor and a meeting will take place behind closed doors. The pair is also expected to appear together for media in the Oval Office.

The president-elect will be accompanied by his wife, Melania, who will have a meeting with first lady Michelle Obama.

Related: Images of presidents meeting their successors

Presidents meeting their successors
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Presidents meeting their successors
U.S. President Barack Obama meets with President-elect Donald Trump in the Oval Office of the White House in Washington November 10, 2016. REUTERS/Kevin Lamarque 
US President George W. Bush and his wife Laura(obscured) welcome president-elect Barack Obama and his wife Michelle to the White House NOvember 10, 2008 in Washington, DC. Bush invited Obama for the private talk, a rite of passage between presidents and successors that extends for decades.The two are expected to discuss the nation's enormous economic downturn and the war in Iraq. AFP PHOTO/Jim WATSON (Photo credit should read JIM WATSON/AFP/Getty Images)
WASHINGTON, : US President BIll Clinton (R) and President-elect George W. Bush(L) shake hands during meetings19 December, 2000 at the White House in Washington, DC for discussions on the transition to power on 20 January 2001. Bush will meet later with US Vice President Al Gore, the man he defeated in the election. AFP PHOTO/Paul J. RICHARDS (Photo credit should read PAUL J. RICHARDS/AFP/Getty Images)

The billionaire businessman bested Democratic nominee Hillary Clinton to win the 2016 election in the biggest upset in U.S. history.

After a volatile election cycle, Clinton spoke Wednesday morning, conceding the race to Trump. Obama made a statement on Wednesday, as well, saying Trump should be given a chance.

"We are now all rooting for his success in uniting and leading the country," Obama said.

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