Backstage with Sandy Kenyon: Anna Wintour and the Met Gala

NEW YORK (WABC) -- Vogue editor-in-chief Anna Wintour has been at the helm of the star-studded annual Met Gala since the mid 1990s, raising tens of millions of dollars for the Costume Institute, which has become one of the Met's most popular attractions at the Metropolitan Museum of Art.

Rumor has it, however, that this year might be her last.

"She's been the great catalyst in making this the biggest night in fashion," Women's Wear Daily style director Alex Badia said. "The Met red carpet, fashion-wise, is the biggest red carpet in the world, even bigger than the Oscars. The Oscars are known for the strapless, safe dresses. The Met, you don't know what you're going to get."

Each ticket is about $30,000, and the guests must be approved by Wintour.

"Ultimately, the buck stops with Anna in terms of who's going to the ball," said Andrew Rossi, director of "The First Monday in May," a documentary about the event. "Like so many things that Anna has her hand in, there's a high and low to this. The gala itself is the highest level celebrities; People who seem superhuman, whether because of their beauty or their status or their wealth. But the exhibition itself is drawing visitors from around the world, people from all walks of life having a real visceral experience looking at the clothes and learning about the fashion."

Stars must burn bright and bold, and the stakes are high.

"It creates legends," Badia said. "It creates fashion stars. Rhianna became a fashion star on the Met red carpet."

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