On Saturday night, Roman Abramovich opened his French Caribbean paradise, the 70-acre Gouverneur Bay Estate, to 400 guests for a New Year’s Eve party.

The Russian oligarch’s guests were informed to dress “island chic.” and were treated to a show from Red Hot Chili Peppers, a buffet and a DJ.

This party cost a reported $5 million and attracted a host of big-names including Rupert Murdoch, George Lucas, Marc Jacobs, Martha Stewart, Mischa Barton, Harvey Weinstein, Georgina Chapman and Jimmy Buffett.

Russian billionaire Roman Abramovich is reportedly flying in the Black Eyed Peas to perform at his New Year’s Eve party in St Bart’s, the Telegraph reports.

The Russian billionaire owns a $90 million, 70-acre estate on the Caribbean island and the hip hop band will perform for guests seeing in 2011 there.

His estate in St Bart’s, which is situated on a lush hillside, includes swimming pools, pavilions and bungalows with ocean views for guests.

Ukrainian billionaire Victor Pinchuk spent $6.2 million on Saturday night to entertain 300 guests at his 50th-birthday party in the posh French ski resort of Courchevel.

He not only flew in Canada’s Cirque du Soleil but also hired superchef Alain Ducasse to prepare the menu at one of Courchevel’s 11 five-star hotels.

But the steel magnate’s birthday blowout revolted many locals in an area tired of being a winter playground for the Eastern European jet set.

Indian billionaire Mukesh Ambani has hosted a lavish housewarming party to show off his just-completed new skyscraper residence.

Some 80 of India’s rich and famous attended the party on Friday night at the 27-storey building, which dominates the Mumbai skyline.

Indian novelist Shobhaa De called the building – reported to be the world’s priciest private residence -”the Taj Mahal of the 21st century”.

A London-based group of hedge-fund managers is planning The Global Party, a 24-hour blow-out for 80,000 of their closest friends on Sept 15, 2011.

The aim is to make it into the Guinness Book of World Records as the largest party ever. It has already been coined the ‘biggest, richest party ever’.

Inspired by Phileas Fogg of “Around The World In 80 Days”, the Global Party will co-host 80+ parties not in 80 days, but all within 24 hours.

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.