Today marks the start of William and Kate’s tour of New York city. It has been reported that a sumptuous reception tonight will cost $50,000 per couple.

Kate and William are in America for a three-day trip that will include stops in New York and Washington, DC.

‘The dinner on the first night is essentially a fundraiser. The people William and Kate will be meeting are not celebrities but seriously wealthy hedge fund types and financiers,’ a source told The Mail on Sunday.

Sir Martin Sorrell, the British advertising entrepreneur, and his wife Cristiana are hosting the dinner in midtown Manhattan.

Sir Martin, whose WPP Group is one of the largest marketing conglomerates in the world, made £30 million last year. His share in the company is valued at £260 million.

Kate and William will visit the World Bank in Washington, DC, the Northside Center for Child Development in Harlem, and an NBA basketball game in Brooklyn on Monday, according to their official website. The pair will visit the National September 11 Memorial Museum on Tuesday and attend the Metropolitan Museum of Art’s St. Andrews 600th Anniversary Dinner.

Cocktail attire is required, with drinks beginning at 6.30 p.m. and dinner beginning at 7.30 p.m. A total of eight royal staff will be assigned to them.

The money earned tonight will go to the Royal Foundation, the couple’s and Prince Harry’s organization that distributes grants to worthy causes.

‘William and Kate are principally there to meet and greet and to raise money for the foundation,’ the source added. ‘The couples attending are being asked to pay thousands of dollars to be there, and there is a lot of talk about cash for access.’

The couple is staying at The Carlyle, which charges £9,500 for a night in the Empire Suite.

Caroline Oddy, executive director of the American Friends of the Royal Foundation, the charity’s US branch, organized the event, which was labeled as “private” on the official schedule.

During their US visit, the Duke and Duchess of Cambridge, who are traveling without Prince George, will meet the Clintons.

The pair last attended a charity event in support of the Royal Foundation in Santa Barbara in 2011.

The Duke and Duchess are in the United States partially on behalf of the Royal Foundation, therefore it’s only natural that they meet supporters.