Madonna, Sir Elton and Prince—Oh, My!

The battle of the bashes has begun!

I just got word that preparations are in full force for Madonna, Demi Moore and Guy Oseary’s Oscar-night soiree. All three have been sending out invites to the bash, which will take place at Oseary’s L.A.-area manse.

Meanwhile, word has it that Prince will be throwing a shindig, too! Last year, he hosted a star-studded Oscar gathering at Teddy’s inside the Hollywood Roosevelt Hotel that went until 6 a.m. Who was there? Sean “Diddy” Combs, Penélope Cruz, Queen Latifah, Leonardo DiCaprio, Sean Penn and Orlando Bloom, to name a few.

And of course, there’s Sir Elton John and David Furnish’s AIDS fundraiser with Chopard and VH1, happening at the Pacific Design Center in West Hollywood. He’s got David Beckham and Posh, among others, on his list. Hot!