Last May, a familiar routine took place on the steps of the Metropolitan Museum of Art.

Katy Perry ascended the red carpet at the annual Costume Institute gala looking like the bride of Frankenstein in her red John Galliano dress and veil. Jennifer Lopez wafted by in sky blue Valentino, flanked by her favorite Yankee of all time and the founder of the design house responsible for making her gown.

By contrast, the entrance of the private equity guru Stephen A. Schwarzman and his wife, Christine, was inconspicuous.

He wore a simple black tuxedo. She had on a shimmering gray Versace gown.

Nevertheless, journalists called out their names. Cameras continued to flash. And obnoxious questions followed about which cost more, the party the couple was waltzing into or the one they’d recently held in Palm Beach, Fla., in honor of Mr. Schwarzman’s 70th birthday.

“I think this one,” Mr. Schwarzman said, although it was hard not to wonder if this guess was a measure of reality or wishful thinking. Certainly, the Met had no live camels in the entryway to the party space. Nor did Gwen Stefani serenade Anna Wintour to the reported tune of $500,000.