Red Hot Chili Peppers to perform at Russian billionaire's NYE party

Red Hot Chili Peppers will perform an exclusive gig at Russian oligarch Roman Abramovich's annual New Year's Eve bash on the Caribbean island of St. Barts, "The Daily Telegraph" reports.

The 45-year-old billionaire plans to outdo himself this year, spending nearly $8 million on the lavish affair for 300 invited guests. The dress code is "island chic" and partygoers will retire to a fleet of super-yachts when the festivities conclude at 4am.

The guest list is typically heavy on of A-list celebrity names. Last year, Demi Moore, Stephanie Seymour, Ellen DeGeneres and Star Wars creator George Lucas attended. Past performers at Abramovich's NYE parties have included Prince, Gwen Stefani and Beyoncé.