Met Gala Raises Record $26 Million for the Metropolitan Museum of Art
At the Met Gala on Monday, the red carpet was ablaze with celebrities like Zendaya and Kim Kardashian showcasing their couture gowns, but what was not visible to the naked eye were the staggering dollar signs involved in the event.
This year’s Met Gala raised a whopping $26 million for the Metropolitan Museum of Art’s Costume Institute, marking a $4 million increase from last year and more than double the amount raised a decade ago in 2014. The event’s success far surpasses other philanthropic events in the city, with the New York City Ballet’s fall gala raising just under $4 million and the American Museum of Natural History’s gala bringing in $2.5 million. Even The Met’s own Art & Artists Gala fell short with $4.4 million raised last year.
“There are very few other events that raise this kind of money,” said fund-raising consultant Rachel Feinberg. “The Met has found this formula that is fantastic for them.”
The Met Gala, which began in 1948 as a benefit for the Costume Institute, has evolved into a highly profitable affair under the direction of Anna Wintour, the editor of Vogue. Ticket prices have steeply increased over the years, with individual tickets this year priced at $75,000 compared to $50,000 last year and $35,000 in 2022.
Celebrities like Zendaya typically do not purchase their own tickets, as brands like Chloé and Tory Burch buy entire tables starting at $350,000 to dress the biggest names and gain valuable media attention. Sponsors like Condé Nast, Loewe, and TikTok also contribute to the event’s success, with TikTok’s CEO serving as an honorary chair this year.
While the gala is a highlight for many, it has faced criticism for its opulence and perceived disconnect from real-world issues. Pro-Palestinian protesters outside the museum and the Condé Nast Union’s bargaining for wage increases added a layer of tension to the event. The night before the Met Gala, a “Debt Gala” was held in Brooklyn to raise money for medical debt relief, showcasing a stark contrast in priorities and attire.
Despite the controversies, the Met Gala remains a cultural phenomenon that continues to captivate audiences and raise significant funds for the arts.
