The Titanic star also faced competition from rapper Yasiin Bey, aka Mos Def, and Sony boss Tom Bernard for the blue Chanel Neoprene flap bag, which was embroidered with flowers, but DiCaprio emerged triumphant after offering up the winning bid of $13,620 (£8,513) at the Heart Fund Gala.

Proceeds from the sale of the designer bag, which was worth $11,300 (£7,063), benefited The Heart Fund, which offers cardiovascular care across the globe for poverty-stricken children.

However, DiCaprio wasn't the only big spender at the bash - he was outbid on two other lots, including a luxury vacation at a resort owned by bosses at the Nikki Beach Worldwide company, one of the event's main sponsors.