The 2026 Met Gala is just days away, and the red carpet looks will soon take over the Internet. But behind the paparazzi flashes and an evening in over-the-top couture, there is a price tag which often gets forgotten behind gowns, props, and viral moments. Said to be ‘fashion’s biggest night out’, the Met Gala returns every year on the first Monday of May with a new theme every year.
This year, with ‘Costume Art’, social media will be abuzz with looks based on the 2026 Met Gala dress code, ‘Fashion is Art’. Touted as the revival of archival fashion and artistry beyond its means, A-list celebrities will be at their best at one of the most exclusive nights in New York City’s Fifth Avenue.
According to a report by The New York Times, the budget stood at around $6 million in 2024, nearly double what it was a decade ago. Back in 2017, Federal Tax records, cited by The Wall Street Journal, had revealed the figure at nearly $3.5 million, highlighting the steady rise over the years.
But, What Really is the Met Gala?
The Met Gala, formally called the Costume Institute Benefit, is an annual haute couture fundraising event. It is held for the benefit of the Metropolitan Museum of Art’s Costume Institute on Fifth Avenue in Manhattan. Organised by Vogue, the 2026 Met Gala is being sponsored by Amazon billionaire Jeff Bezos and his wife, Lauren Sanchez, as the honorary chairs.
The co-chairs for the 2026 Gala are Beyoncé, Nicole Kidman, Venus Williams, and Anna Wintour, former Editor-in-Chief of Vogue.
What was once started in 1948 by publicist Eleanor Lambert, it once held a $50 ticket to a midnight supper to raise funds for the newly opened Costume Institute of the Metropolitan Museum. The only self-funded department, the funds raised at the Met Gala every year support over 800 periodicals and 1,500 designer files dating back to the sixteenth century, a conservation lab, storage, gallery spaces, and the salaries of its 29-person staff.
Money that Moves the Met
As per the Met director and CEO Max Hollein, the 2025 Met Gala broke all records and raised $31 million, a significant jump from 2024’s $26 million benefit. Looking at the past trajectory, the 2022 Met Gala raised $17.4 million, while a total of $200 million has been raised since 2019.
Earlier this month, an Irish Star report had revealed that the Met Gala ticket prices had dropped, considering Bezos’ entry, debuting as the honorary chair of the creative arts fundraiser. However, it is also coupled with Anna Wintour’s departure from her role at Vogue. What once cost $100,000 (~Rs 95 lakh as per current rate) is estimated to cost $75,000 (~Rs 71 lakh as per current rate) per attendee.
Looking back, a seat at the Met Gala table used to come with a price tag of less than $1000, which doubled in 1998. A decade ago, in 2016, solo tickets cost $25,000. However, several brands sponsor the tickets of attendees, but the final say remains with Anna Wintour, the chair of the Met committee.
Numbers that Tip the Scale
Every year, the Met hosts nearly 400 invite-only guests. Once inside, guests must have stickers placed over their phone cameras and abide by a strict no-phone policy.
However, the Met Gala generated a record-breaking Media Impact Value (MIV) of $1.3 billion, as per Launchmetrics, in 2025. The benchmark essentially assigns a monetary value to every post, placement and interaction.
The top placement was gained by Diljit Dosanjh, one of the most popular Punjabi singers in the world. His appearance at the Met Gala carried an MIV of $1.9 million in a single Instagram post, and India’s overall performance placement was valued at $125,3 million as per the Launchmetrics report on the 2025 Met Gala. SRK’s debut gathered $1.8 million, surprising below Dosanjh’s total $2.8 million MIV.
This year, from India, notable Bollywood director and producer Karan Johar is set to make his debut at the Met Steps. Dressed by Manish Malhotra, he follows billionaire and mega-star Shah Rukh Khan’s gracious appearance in 2025, as he sported an effortlessly chic Sabyasachi attire.