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Designer Marc Jacobs walks the runway at Marc Jacobs Spring 2010 fashion show at The Armory on September 14, 2009 in New York, New York.
( - Source: Fernanda Calfat/Getty Images North America) more pics like this »

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7. Marc Jacobs

Every year, Marc Jacobs throws an extravagant masquerade holiday bash with his BFF and business partner Robert Duffy. That is, until now. Duffy wrote in an email to guests, "Due to the financial climate, I had to make the decision to cancel the 2008 holiday party. It pains me as this has been a Marc Jacobs tradition for the past 18 years." No champagne fountain!?

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