Notably, last year’s Met Gala also saw actor Shah Rukh Khan and actor-musician Diljit Dosanjh make their debuts. Photo: Express/FileThe first Monday of May marks a special place in the global fashion calendar. This year, the spotlight will turn to New York City’s Metropolitan Museum of Art on May 4, as notable individuals from diverse fields will walk up the museum’s steps for the annual Met Gala.In recent years, celebrated Indian names such as Priyanka Chopra-Jonas, Shah Rukh Khan, and Diljit Dosanjh have also appeared at the event. So, what is the Met Gala, how did it begin, and why is it known as “fashion’s biggest night”? We explain.Origins of the GalaStarted in 1948 by fashion publicist Eleanor Lambert, the Met Gala (or Ball) was intended to raise funds for the museum’s Costume Institute and increase its profile. The Institute houses a vast collection of over 33,000 objects from the 15th century to now, documenting how men, women, and children clothed and dressed themselves. It is also a testimony of societal evolution in the creative space, be it of craftsmanship, textiles, art, or individual expression.Traditionally timed to mark the opening of the institute’s spring fashion exhibition, the gala was not always held at the museum. In its early years, it took place at various New York venues like the Waldorf Astoria and Rainbow Room. It only moved permanently to the museum in the early 1970s, becoming more closely tied to its exhibitions.Also read | Inside the Met Gala: The Glamorous History Behind Fashion’s Biggest NightFrom the 1970s, Vogue magazine’s then editor-in-chief Diana Vreeland became a special consultant to the Institute, whereupon the gala started following themes. But it became a not-to-be missed celebrity-studded event only after Anna Wintour, editor-in-chief of Vogue from 1988 to 2025, became chair of the Met Gala in 1995 and started co-hosting it. Anna Wintour in New York on April 29, 2026. The Met Gala became a not-to-be missed celebrity-studded event only after Wintour, editor-in-chief of Vogue from 1988 to 2025, became chair of the event in 1995 and started co-hosting it. Photo: AP/PTISince then, it has become a most sought-after event that attracts A-listers, who stand out in outfits that look more like art collectibles than wearable couture. Over the years, the celebrity arc has widened from fashion to include achievers in film, television, music, theatre, business, sports, social media, and politics.The economics of Met GalaBack in 1948, tickets cost just $50, and the event was understandably far less glamorous than it is today. Now, the gala is an invite-only event hosting close to 400 guests. For the privilege of watching these high-profile attendees up close, a ticket reportedly costs $75,000. These are not sold to the general public, and celebrities and brands usually snap up all the available tickets and tables. Beyond Hollywood’s brightest stars, the exclusive guest list includes leading designers from across the globe.Story continues below this adAccording to Vogue, the Met Gala has raised eight-figure amounts year after year and in 2025, museum officials reported the biggest fundraise in the event’s 77-year history: close to $31 million. Last year’s event also generated a record Media Impact Value (MIV) of $1.3 billion, according to brand solutions company Launchmetrics. MIV assigns a monetary value to every post, placement, and interaction.NewsletterFollow our daily newsletter so you never miss anything important. On Wednesday, we answer readers' questions.SubscribeThis year, the event is being sponsored by Amazon co-founder and billionaire Jeff Bezos and his wife Lauren Sanchez Bezos, who are also honorary chairs. The co-chairs are Wintour, music icon Beyoncé, actress Nicole Kidman, and tennis star Venus Williams.Recent media reports suggest that Bezos’s entry and Wintour’s departure as Vogue’s editor-in-chief last year have resulted in ticket prices dropping from a previous high of $100,000 to the present $75,000.The Met Gala’s theme this year is “Costume Art”. Curated by British museum curator Andrew Bolton, the theme will explore the relationship between clothing and the body beneath. According to Vogue, the show will include garments and artworks from across the Met’s vast collection, and feature both historical and contemporary pieces from the Costume Institute. The “Costume Art” exhibition will be open to the public from May 10, 2026, through January 10, 2027.Story continues below this adThe event has also seen Indian presence over the years. Actor Priyanka Chopra-Jonas debuted in 2017 and followed it up with four more appearances since then. Others who have made appearances at the gala include actors Deepika Padukone, Alia Bhatt, and Kiara Advani, as well as businesswomen Isha Ambani and Natasha Poonawalla.Notably, last year’s Met Gala also saw actor Shah Rukh Khan and actor-musician Diljit Dosanjh make their debuts. This year, producer-director Karan Johar is expected to appear at the event.