Jennifer Lopez Paid $1.2 Million For 40 minute Performance

A Russian billionaire spent over $2 million for Jennifer Lopez to perform at a joint birthday party for himself and his wife Saturday night, sources tell PEOPLE.

Lopez's 40-minute concert cost 35-year-old Andrei Melnichenko $1.2 million.

He paid another $800,000 to fly the singer, her husband Marc Anthony and their entourage from the U.S. to his 27-acre estate in Surrey, England, and put them up at the Mandarin Oriental in London.

Sixty guests, including Russian and Serbian tycoons, attended the bash for Melnichenko and his 30-year-old wife, former model Aleksandra Nikolic Melnichenko.

Melnichenko, who is worth $5 billion, according to his spokesman, made his fortune founding MDM Bank. He's no stranger to lavish spectacle: He paid Christina Aguilera $4 million to sing at his 2005 wedding in the south of France.