Russian billionaire Roman Abramovich will be hosting what promises to be one of the most extravagant bashes anywhere to see in the new decade.

He and his girlfriend Daria Zhukova, are expected to spend up to $4.8m on a beach party for 250 people on the Caribbean resort island of Saint Barthélemy.

The London Times reports that the singer Prince is to perform for them for a fee said to be $760,000.

The Russian billionaire “bought” the land, which is located between 20-24°S latitude and 30-34°W longitude up there, in order to make it up to his soon-to-be wife, Daria Zhukova.

Apparently their crazy wedding had to be toned done because of the credit crisis, which has affected Abramovich’s fortune.

The land, in case you are looking to symbolically buy some moon property, was purchased from The Lunar Embassy. Via crunchgear