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Thread NY put together an extremely helpful primer on the Met Gala. Key talking points: When the ball first began in 1948, it was a midnight supper in December at which society ladies paid $50 to wear Costume Institute gowns. As with many aspects of the modern fashion industry, it didn't turn into a crazed celebrity whirlwind until Anna Wintour got involved back in 1995. All that hoopla has turned the Gala into a major, major fundraising event—last year the party raised $9 million. [Thread NY]