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 guest list is a secret but it has been speculated that Jude Law and Simon Cowell received invites.

He recently bought the Gouverneur Bay estate – a $90m 70-acre cove surrounded by hills that lead down to a beach.

He plans to use the entire Governor Bay area as a party space bringing luxury yachts in and launching fireworks off of one of his own massive boats.

Read the full story @ Timesonline