Julie Bishop is not one to shy away from an extravagant night out.

On Thursday night, the retired politician looked decadent for the annual star-studded Gold Dinner at Fox Studios in Sydney.

The 62-year-old dazzled the red carpet alongside her partner, 58-year-old David Panton, at the charity gala in a bedazzled metallic gown.

The stunning frock featured beaded fringing with delicate cap sleeves, which she paired with a gorgeous pearl bracelet and drop earrings.

Joined by Bishop for the glamorous event was former  Today  show host Karl Stefanovic along with his  wife  Jasmine, who turned heads in a stunning navy gown with a one-shoulder neckline.

Also in attendance was Karl’s  Today  show replacement,  journalist Deborah Knight, who looked divine in a scarlet gown and a slicked back hairdo.

The Gold Dinner event is in its 22nd year and is not like any other charity function.

Deemed as the “most exclusive charity gala in Australia,” the event raises money for the  Sydney  Children’s Hospital  Foundation.

Unlike many other fundraisers  that populate on social media, this annual event is a strictly invite-only occurrence that happens once a year.

The invitations  come directly from the Gold Committee members, which include Julie Bishop and Karl Stefanovic.

Guests are required to pay $1500 per  head to attend the star-studded event, where there are reportedly “absolutely no freebies,” as reported by  news.com.au.

The annual event has raised over $26 million for paediatric healthcare.

Scroll through the gallery above to see some of the gorgeous looks throughout the night.