Thursday night the hottest ticket in New York was the Black Ball benefiting Keep a Child Alive, presented by the Condé Nast Media Group.

Held at the Hammerstein Ballroom, the humanitarian awards ceremony and live concert brought out celebrity mega-couple Tom Cruise and Katie Holmes, both resplendent in Giorgio Armani—he in a pin-striped suit, lavender silk shirt, and a pearl grey-and-lavender tie to compliment his main squeeze’s soft purple Privé halter gown. The paparazzi-savvy duo skipped the red carpet crush and headed straight to the ballroom, where they mingled with keynote speakers Elijah Wood and Ed Norton, as well the evening’s performers, Alicia Keys, Damian Marley, and David Bowie. Tom and Katie shelled out $50,000 for a table where Cruise kept court with his new best friend Tom Freston. Both Toms were fired by Viacom chairman Sumner Redstone. Also, at Katie and Tom’s table were Graydon and Anna Carter, Vanity Fair features editor Jane Sarkin and Diane Sawyer’s Good Morning America producer, Marc Robertson.

Making the rounds outside were a hand-holding Russell and Kimora Lee Simmons, as well as another arm-in-arm duo: the legendary Valentino and his muse du jour, Anne Hathaway, clad in Valentino dripping in Cartier jewels. The two met at a film festival in Venice at a screening for The Devil Wears Prada, and they’ve been madly in love with each other ever since.

Also clad in siren red Valentino was Iman, who explained away her tardiness, saying, “My hairdresser didn’t show up, and that’s why I was late. I had to do my own hair and I’m no good at it!” Prepping for his big couture show in January, as well as a 45-year career retrospective in Rome this coming summer, does Valentino ever dream of throwing a red ball to showcase his signature color? “Oh no, no,” he laughed. “Everyone has to wear what they want to wear. I love black, but red does give a lot of guts to ladies.”