[Photo via Vogue.it]

What many consider to be the highlight of the Cannes Film Festival, the AmFar Gala, was held last night at the Hotel du Cap-Eden Roc. The event was so exclusive that the entire town of Cap D'Antibes was closed off to anyone without an invite, and a seat at the dinner cost $4,700 Euro. More»

[Photos via Vogue Italia]

The De Grisgono Party, held last night at the Hotel Du Cap was the most lavish Cannes party yet. Will.I.Am DJ'd, and British pop star Cheryl Cole was reportedly paid a staggering 250,000 pounds for a 30 minute performance. Rachel Bilson, Lionel Richie, Paris Hilton, Nicky Hilton, Meg Ryan, Naomi Campbell, and Kelly Rowlands were among the American celebrities who attended this poshest of  European events. More»

Yacht-hopping is a sport at which only the truly privileged can learn to excel. Naomi Watts, Charlotte Casiraghi, and Javier Bardem have got it down to a science this week as they go from party to glamorous party aboard the most luxurious yachts in the world. And the week is only half over! Below, pictures from the Festival's hottest parties so far, and guide to what's still to come.... More»

• The only way Lindsay Lohan has a chance of not being arrested is if she can get on a flight from Cannes (highly unlikely due to volcanic ash), where she's busy partying and being a non-contributor promoting her Linda Lovelace film, and be back in L.A. in time for her court hearing on Thursday [TMZ]
• Sean Penn is much, much too busy with hearings on Haiti and flirting with models at Miami clubs into the wee hours to be bothered with attending that silly Cannes thing where he has a movie premiering [NYPost]
• Oh, snap! Mayor Villaraigosa totally went there yesterday before the Game 1 of the Lakers-Suns Western Conference Finals, offering a wager to Phoenix Mayor Phil Gordon and adding, "...we look forward to welcoming Steve [Nash] to our team the next time he forgets to carry his passport with him" [KTLA]
• Watch out Wall Street, mega-producer Joel Silver is suing Goldman Sachs for upwards of $30 million, a sum which the Hollywood heavyweight claims the firm has failed to pay according to the terms of an agreement made in 2007 [THR]
• Kitson, the famed Robertson boutique that's multiplied with several new locations, has filed a lawsuit against its own accessories licensee for selling cheap knockoffs of the brand's signature bags bearing its trademark [WWD]

[Kate Beckinsale At The Premiere of Wall Street 2: Money Never Sleeps]

Oh, to be a movie star at Cannes! Sunning yourself on a yacht by day, attending glamorous parties and premieres by night. There wasn't too much sun to be had this weekend, but that didn't stop the stars of Wall Street 2: Money Never Sleeps from lounging around the Mediterranean before their big premiere. More»

The chicest film festival officially kicked off yesterday. As is tradition, the world's biggest stars have jetted off to Cannes with their A-game and haute couture gowns in tow. More»