The event is generally co-chaired by Vogue editor-in-chief Anna Wintour – she's an honorary co-chair this year – and a handful of celebrities and public figures. This year, singer Billie Eilish, actor Timothee Chalamet, tennis icon Naomi Osaka and poet Amanda Gorman took on such duties for the event held at New York’s Metropolitan Museum of Art’s Costume Institute.
Each year, the attendees are expected to don jaw-dropping outfits that align with a theme that promotes an exhibit at the museum. This year’s theme is "In America."
With some of the biggest stars from Hollywood and beyond set to attend this year’s Gala, here’s a look at the money behind it:
How much is a ticket?
Tickets for the event cost at least $30,000, according to The Associated Press.
The Cut reports that between 500 and 600 people attend the event each year, meaning a minimum of $15 million could be made – though this year’s affair is said to be more intimate due to coronavirus restrictions.
Who pays for the tickets?
While stars are given invites by Wintour, it’s very common for a brand to host them and buy tables at the event for hundreds of thousands of dollars. Stars may also be accompanied by the designers who dressed them.
How much money is raised?
The event is, after all, a fundraiser for the museum’s Costume Institute. The Institute – which serves as the museum’s fashion department – is the only department in the museum that must fund itself, so the stars lend a helping hand.
Last year, the event raised a total of $13 million. It’s estimated that Wintour has raised up to $200 million for the Institute.
The Associated Press contributed to this report