"For Bianca Jagger's birthday party in 1977, Ian Schrager booked a white horse, Ms. Jagger mounted it, and Studio 54 galloped into history." Robin Platzer / Twin Images / & Online USA / Getty Images Diana Ross does the limbo on the dance floor of Studio 54. Bettmann / Corbis Elizabeth Taylor celebrates her 46th birthday in 1978 at a Studio 54 party with designer Halston. Bettmann / Corbis Robin Platzer/Twin Images/Time Life Pictures/Getty Images Diane von Furstenberg at Studio 54 in 1977. Rose Hartman/Getty Images Robin Platzer/Twin Images/Time Life Pictures/Getty Images Michael Jackson with Yul Brynner and his wife at a party honoring Jackson and Brynner on Feb. 10, 1984. Felice Quinto / AP Photo Truman Capote takes a nap with Kate Harrington and Gloria Swanson on June 22, 1978. Ron Galella/WireImage Ron Galella/WireImage Arnold Schwarzengger and Maria Shriver in 1982. Walter McBride/ Retna Ltd./ Corbis Caroline Kennedy, 20, being cradled by actor Sterling St. Jacques on the dance floor. Bettmann / Corbis Mick Jagger at Bianca Jagger's birthday party in May, 1977. Rose Hartman/Getty Images Steve Rubell and Ian Schrager, owners of Studio 54, stand arm-in-arm around the time of the club's opening. Tim Boxer/Hulton Archive/Getty Images