What's the best thing about turning 75? Larry King gets philosophical with ET at his diamond birthday bash!

"Being alive," said Larry with a laugh. "It's better than the alternative. There's no great thing about 75 except that you've lived a lot of years and you're fortunate enough to have two young boys ... and have a young wife -- much younger than you -- that's a blessing."

In addition to his 75th birthday, Larry and his family were joined by such stars as Drew Carey and Leeza Gibbons in celebrating the 20th anniversary of his Larry King Cardiac Foundation with the King of Hearts Gala at the Hollywood & Highland complex, with the goal of raising money and awareness of the uninsured population who need quality cardiac care and life-saving treatment.

"There's no better thing than to save a life," says Larry, adding, "I never thought I'd be 75; I was 53 when I had my heart attack and the surgery. ... All this is amazing to me."

Watch ET for more with Larry!