Vogue releases 2026 Met Gala best dressed list

Q: Why might fashion's biggest fundraiser become unnecessary for the Met by 2030?

The Met Gala could become unnecessary for the Met by 2030 because the Costume Institute is on track to fund itself through an endowment or reserve built from years of gala proceeds. The gala remains the Costume Institute’s main fundraiser, raising a record $31 million in 2025, but reporting around the event indicates the institute has been setting aside part of that money since 2016. That strategy gained urgency after the 2020 cancellation exposed how dependent the department was on a single annual event, unlike other Met departments that can draw on broader institutional endowment support. If that reserve grows to the point of generating enough annual income, the Costume Institute would no longer need the gala to cover its basic operations. In practical terms, the event could continue as a cultural and publicity spectacle, but not as a financial necessity. That idea also matches comments from Andrew Bolton, the Costume Institute’s curator in charge, who has said the department wants to be less reliant on the gala because the event can overshadow the museum’s actual work. With the institute now housed in a prominent permanent space and its exhibitions increasingly integrated into the Met’s broader artistic mission, the long-term goal appears to be financial independence rather than perpetual dependence on one blockbuster fundraiser.

3 articles · Updated · Vogue · May 5

The picks spotlighted stars' theatrical red-carpet looks at New York's Metropolitan Museum of Art, tied to this year's theme, "Costume Art," and dress code, "Fashion is Art."
Vogue said many standout ensembles echoed motifs from the new Costume Institute exhibition, with designs emphasising silhouette and the dressed body's form through enhancement or concealment.
The magazine framed the gala as a venue for storytelling and subverting expectations, and invited readers to vote for the night's ultimate most-stylish look.