NEW YORK — The 2026 Met Gala raised a record-breaking $42 million for the Metropolitan Museum of Art’s Costume Institute, surpassing last year’s previous high of $31 million and solidifying its status as one of the world’s most powerful fundraising events in fashion and culture.

Museum officials announced the figure on Monday evening as celebrities ascended the steps of the Metropolitan Museum of Art for the annual “Fashion Is Art” themed gala. The funds will support exhibitions, acquisitions, conservation efforts and educational programs at the Costume Institute, the only curatorial department at the Met that operates without direct museum funding and relies almost entirely on the gala for its budget.

This year’s total marks a significant jump from previous records and reflects growing corporate and tech-sector support, with high-profile sponsors and attendees contributing generously. Jeff Bezos and other Silicon Valley figures were among the notable backers, helping push the evening to new financial heights even before the first guest walked the carpet.

What is the Met Gala?

The Met Gala, formally known as the Costume Institute Benefit, is an annual haute couture fundraising event held on the first Monday in May. It celebrates the opening of the Costume Institute’s spring exhibition and has evolved into the premier fashion event of the year, often called “fashion’s biggest night.”

Founded in 1948 by fashion publicist Eleanor Lambert as a modest midnight supper to support the newly established Costume Institute, the gala has grown into a global cultural phenomenon. Tickets routinely cost $75,000 each, with tables reaching $350,000 or more. The event blends high fashion, celebrity culture, art and philanthropy into one star-studded evening.

Each year features a specific theme tied to the Costume Institute exhibition. The 2026 theme, “Fashion Is Art,” encouraged guests to interpret clothing as living artwork, resulting in some of the most creative and sculptural looks in recent memory. Co-chairs this year included Beyoncé, Nicole Kidman, Venus Williams and Anna Wintour, who has helmed the event for decades.

The red carpet serves as both a fashion showcase and a major publicity engine. Designers create custom pieces for A-list celebrities, generating billions in earned media value. The evening raises critical funds while spotlighting the Costume Institute’s work preserving fashion history from the 15th century to today.

**Record Fundraising Success**

The $42 million haul represents the highest amount ever raised in a single Met Gala. Museum CEO Max Hollein and Costume Institute curator Andrew Bolton credited strong sponsorships, particularly from the tech industry, and the event’s growing cultural relevance.

Proceeds will directly support the Costume Institute’s operations, including major exhibitions like the current “Fashion Is Art” show. Over the past decade, the gala has raised more than $166 million, helping build a quasi-endowment that could make the institute more self-sufficient by 2030.

This year’s record was achieved even before guests arrived, thanks to early commitments from sponsors and ticket sales. Tech leaders and corporate partners played an outsized role, reflecting fashion’s increasing intersection with technology and Silicon Valley wealth.

Cultural Significance and Criticism

Beyond fundraising, the Met Gala functions as a powerful cultural barometer. It blends celebrity, art and fashion into a highly visible spectacle that shapes trends and conversations worldwide. However, it also draws criticism for its exclusivity, high costs and occasional disconnect between the lavish event and broader social issues.

Some guests and observers used the platform to highlight causes, while others faced backlash for perceived tone-deafness. The 2026 edition saw a mix of artistic statements and traditional glamour, with standout looks from stars like Anne Hathaway, SZA, Beyoncé and Rihanna generating widespread acclaim.

Impact on the Fashion Industry

The Met Gala drives enormous economic activity. It generates publicity worth billions for participating designers and brands. Many use the event to launch collections or collaborations, while the themed exhibition boosts museum attendance throughout the year.

For the Costume Institute, the funds are essential. Unlike other Met departments, it receives no direct operating budget from the museum and depends almost entirely on gala proceeds. The money supports conservation of thousands of garments, research, educational programs and rotating exhibitions that draw hundreds of thousands of visitors annually.

Looking Ahead

With $42 million secured, the Costume Institute is well-positioned for ambitious future exhibitions. Officials have hinted at expanded programming and potential new gallery spaces funded in part by gala proceeds.

The 2026 event’s success reinforces the Met Gala’s enduring power as both a fundraiser and cultural touchstone. As fashion continues evolving and intersecting with technology, art and social issues, the gala remains a unique platform where these worlds collide.

For many, the evening transcends its fundraising role. It represents creativity, self-expression and the joy of seeing clothing elevated to art. This year’s record $42 million ensures the Costume Institute can continue its vital work preserving fashion history while inspiring new generations of designers and enthusiasts.

As the green-and-white carpet was rolled away and the after-parties wound down, the 2026 Met Gala will be remembered not just for its stunning looks but for setting a new philanthropic benchmark. The funds raised will support fashion as art for years to come, ensuring the Costume Institute’s legacy remains as vibrant as the event itself.

Boss Peter Kenyon said it had been a strong start to the year for the North East-based retailer

High street pawnbrokers Ramsdens has upgraded full-year profit expectations, despite concerns over jet fuel shortages and volatile gold prices.

The Teesside-based chain, which also sells jewellery and holiday money, told investors that, despite global instability causing anxiety over summer holidays and volatile gold prices, it had enjoyed strong trading across its network of more than 170 sites. Bosses said pre-tax profits would now be at least £28.5m, up from prior expectations of about £24m, and could reach £31.5m if favourable gold prices continue and summer currency exchange volumes match last year.

Ramsdens has continued to benefit from the soaring price of gold, which is currently about 40% ahead of last year. That has led more customers to sell gold. Meanwhile jewellery retail revenue is about 25% ahead year-on-year, with gross margins said to be slightly improved.

The firm told investors on the London Stock Exchange that strong demand continued for pawnbroking loans – leading to record new lending in March and April. Ramsdens’ pawnbroking loan book is now 24% up on September last year, at £14.1m.

It also said newly opened shops in Hull, Sheerness and Wakefield were trading well, with new sites in Ashford and Abergavenny most recently launched. Two further locations in Hereford and Newark are set to open later this month, and another two where shop fitting work is yet to start. It means Ramsdens will open between 10 and 12 new shops in its 2026 financial year.

Peter Kenyon, chief executive, said: “We have had a strong start to the year given the economic back drop with our pawnbroking, jewellery retail and foreign currency exchange services all performing well. In addition, we have had an exceptional half year for our purchase of precious metals segment due to the continued benefits of a sustained high gold price and the increased weight being purchased.

“As a result of the continued strong performance across our diversified income streams and the additional benefit of the very high gold price, we are once again trading ahead of market expectations* and currently anticipate profit before tax for FY26 to be in a range of £28.5m to £31.5m.”

LOS ANGELES — Star Wars fans can finally secure their tickets starting today, May 6, 2026, for Star Wars Celebration 2027, the massive four-day fan event set to take over the Los Angeles Convention Center from April 1-4, 2027, marking the 50th anniversary of the original “Star Wars” film.

Tickets officially went on sale at 12:00 p.m. PT on Wednesday, with multiple tiers available ranging from single-day passes to premium Jedi Master VIP packages. The event promises major panels, exclusive merchandise, cosplay showcases, and surprises celebrating five decades of the beloved franchise.

The official Star Wars Celebration website and Ticketmaster began processing orders promptly at noon Pacific, with fans reporting quick movement on lower-priced options. Early demand appears high, especially for the full four-day passes and VIP experiences that include early access, exclusive panels and collectibles.

Event Details and Highlights

Star Wars Celebration 2027 will return to California for the first time since 2006, bringing together fans, celebrities, creators and collectors for an immersive experience. The Los Angeles Convention Center will host massive exhibit halls, autograph sessions, stage presentations and fan-favorite activities such as the popular cosplay competition and collector-focused areas.

Organizers have teased special programming to celebrate the 50th anniversary of “A New Hope,” potentially including rare screenings, behind-the-scenes insights and appearances tied to current and upcoming Star Wars projects. While full panel and guest lineups remain under wraps, past events have featured major announcements from Lucasfilm, including new film and series reveals.

Ticket Options and Pricing

• 4-Day General Admission: $105.99
• Thursday Single Day: $36
• Friday/Saturday/Sunday Single Day: $46 each
• Jedi Master VIP packages (with premium perks) are priced significantly higher and sold out fastest in previous years.

Hotels near the convention center have already opened special discounted room blocks through the official partner Connections Housing. Fans are encouraged to book accommodations early, as the event typically draws tens of thousands of attendees.

Why Fans Are Excited

This will be the first Celebration on the West Coast in over two decades, making it highly accessible for fans in California and the broader Western U.S. The timing aligns perfectly with the franchise’s milestone anniversary, raising expectations for substantial reveals about upcoming movies, series and games.

Social media has been buzzing since the sale opened, with fans sharing screenshots of successful purchases and expressing excitement about returning to in-person celebration after recent international events. Hashtags like #StarWarsCelebration2027 and #SWCeleb2027 quickly began trending as attendees planned trips and coordinated group travel.

Past Celebrations and Legacy

Star Wars Celebration has grown into one of the largest pop culture conventions in the world since its debut in 1999. Previous events in cities like Chicago, Orlando, London and Anaheim have delivered unforgettable moments, including surprise cast reunions, trailer premieres and interactive experiences.

The 2027 edition in Los Angeles is expected to be one of the largest yet, capitalizing on the city’s deep connection to the Star Wars universe and its status as a global entertainment hub.

Tips for Buying Tickets

Fans hoping to attend should act quickly, especially for VIP packages and popular single-day tickets. Having a Ticketmaster account ready with payment information saved can help avoid missing out during high-demand periods. Those unable to purchase today are advised to monitor the official site for any additional waves or waitlists.

International travelers should begin visa and travel arrangements early, particularly for large groups. Families and cosplay enthusiasts are encouraged to review the event’s policies on costumes, props and age restrictions once more details are released.

What to Expect in 2027

While the full schedule remains months away, past events suggest a mix of large-scale panels, intimate creator sessions, vendor halls packed with exclusive merchandise, and community celebrations. The 50th anniversary theme is likely to bring special tributes to the original trilogy and the franchise’s cultural impact.

Lucasfilm has not yet announced specific guests or programming, but speculation is already running high about potential appearances by legacy actors and new talent from ongoing series.

Broader Star Wars Momentum

The timing of Celebration 2027 comes during an active period for the franchise, with new films, television series and games in various stages of development. Fans hope the event will provide clarity and excitement about the future direction of Star Wars storytelling across all mediums.

For many, attending Celebration is more than just a convention — it is a pilgrimage and a chance to connect with fellow fans from around the world who share a passion for the galaxy far, far away.

As tickets continue selling throughout the day, excitement continues to build for what promises to be a landmark event in Star Wars history. Whether you’re a longtime fan celebrating 50 years or a newer member of the community, Star Wars Celebration 2027 in Los Angeles is shaping up to be an unforgettable experience.

Tickets remain available now at the official Star Wars Celebration website. Early buyers are already making plans, booking hotels and coordinating costumes for what many are calling the biggest Star Wars party of the decade.

Chevron CEO Mike Wirth on Monday said that shortages in the oil supply chain will start appearing around the world because of the closure of the Strait of Hormuz amid the Iran war.

Wirth made the comments during a discussion at the Milken Institute’s Global Conference about global economic growth and said that economies in Asia will be the first to shrink as demand adjusts to the disruption of oil supplies.

“We will start to see physical shortages,” Wirth said, adding that surplus supply in commercial markets, tankers in so-called shadow fleets avoiding sanctions, and national strategic reserves were being absorbed.

“Demand needs to move to meet supply,” he said. “Economies are going to have to slow.”

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Chevron CEO Mike Wirth said oil shortages will start appearing around the world, slowing economic growth. (Patrick T. Fallon/AFP via Getty Images)

Asian countries are the most reliant on oil produced and refined by countries near the Persian Gulf and are likely to see shortages first, followed by European countries, Wirth said.

He said that the U.S. as a net exporter of crude oil would be less affected than other parts of the world, but eventually the effects of the supply constraints will be felt there as well.

Wirth noted that the last scheduled shipment of oil from the Gulf was being offloaded at the Port of Long Beach, which supplies Los Angeles and Southern California.

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The overall impact of the closure of the Strait of Hormuz is “potentially as big as in the 1970s,” Wirth said of the energy crises that stemmed from the Yom Kippur War and the Iranian revolution that disrupted oil exports from the Middle East.

Energy prices have spiked amid the Iran war, with prices for global crude oil benchmarks West Texas Intermediate and Brent both trading over $100 a barrel after surging above $110 a barrel due to the conflict.

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Oil tanker traffic through the Strait of Hormuz ground to a halt due to the Iran war. (Giuseppe Cacace/AFP via Getty Images)

Surging oil prices have pushed gas prices higher, with AAA data showing that the national average price of gas at more than $4.48 a gallon as of Tuesday – up more than 41% from the $3.16 a gallon average that prevailed one year ago.

Jet fuel prices have also risen dramatically, topping $4 a gallon since the outbreak of the war after it cost less than $2.50 a gallon before the war began.

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The dramatic rise in jet fuel prices contributed to the failure of Spirit Airlines as its bankruptcy exit plan was upended by mounting costs.

Reuters contributed to this report.