Met Gala 2018: Everything You Need to Know

Rihanna Met Gala 2015
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The first Monday of May is the most exciting day for fashion insiders and celebs.

The first Monday in May brings together the hottest and most stylish Hollywood A-listers, as well as the fashion industry's elite designers, editors and models at the Costume Institute Gala at New York's Metropolitan Museum of Art.

As the world awaits to see what all the celebs will be wearing on the Met Gala red carpet, ET is breaking down everything that you need to know about fashion's most exclusive event of the year.

What Is It?

Established in 1946, after the Museum of Costume Art merged with The Metropolitan Museum of Art, the annual dinner and fundraising benefit is regarded as one of the most exclusive social events in New York City. Every year the museum chooses a theme for its new exhibition and, as is tradition, guests are encouraged to base their attire on the exhibit’s theme and interpret it in their own way. Vogue editor-in-chief Anna Wintour has chaired the affair since 1995 and enlists public figures to serve as the event's co-chairs.

When Is It?

The extravaganza traditionally takes place on the first Monday in May. This year, the Met Gala will be held on May 7 at 4 p.m. PT/7 p.m. ET.

What's the Theme?

Fashion and religion will be combined in this year's theme: "Heavenly Bodies: Fashion and the Catholic Imagination," designed to create a dialogue between fashion and the masterworks of religious art in the museum’s holdings.

So how might celebs interpret this? Expect ecclesiastical motifs, gold, rosaries, crucifixes, cherubs, shades of virginal white mixed with fiery reds and homages to the Holy Trinity. But not all guests subscribe to the dress code, so keep an eye out for rule breakers.

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Who Are the Co-Chairs?

Amal Clooney, Rihanna, Donatella Versace are 2018's official co-chairs. The trio will undoubtedly turn heads once they step on the red carpet.

This will be Amal's second Met Gala. The 40-year-old attorney first attended with her husband, George Clooney, in 2015, when the theme was "China: Through the Looking Glass", and wore a red Maison Margiela “Artisanal” bespoke gown by John Galliano.

As for Rihanna, she's attended the Met Gala seven times, with her first being in 2007. The 30-year-old singer still can't top Donatella's attendance record at the annual event, though. The 63-year-old designer made her debut at the ball in 1995 and has attended a total of 16 times.

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How Do You Get to Go?

Every year, Wintour carefully curates the guest list. Anyone who is major in the entertainment world -- models, designers, actors, musicians and socialites -- that is on Wintour's radar is invited. But it's not that easy. Attending costs hundreds of thousands of dollars.

Tickets to the gala are $30,000 and tables start at $275,000. However, all the money does go toward the Met’s Costume Institute, as it is its only curated department that has to fund itself. According to the New York Times, last year's shindig raised over $12 million. Though, not everyone has to pay for a ticket. Some brands will purchase tables and invite celebs to sit at their spot. However, guests still need to be approved and cleared by Wintour herself.

Who Is Expected to Go?

Kim Kardashian West and Kendall Jenner have already mentioned that they are getting ready for the gala, as well as Blake Lively, who previously shared that she's been working on her dress for a while now.

Aside from the co-chairs, Sarah Jessica Parker, who is always a showstopper, and Andy Cohen will definitely be at the soiree. Katie Holmes, Lady Gaga, Gisele Bundchen, Gigi and Bella Hadid are also frequent attendees.

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Where Can I Watch It?

There's a strict "no social media" rule at the bash, however, most celebs sneak in a pic of two. There aren't cameras inside either, though Vogue will have a livestream of the red carpet on their website.

For now, keep checking back with ET to see all our coverage of the 2018 Met Gala!