Lauren Sánchez Sizzles in Red-Hot, Sheer Gown for 'Magical Evening' with Fiancé Jeff Bezos at 2024 Oscars Party

Lauren Sánchez made a skin-baring style-statement on the red carpet at the 2024 Vanity Fair Oscar Party!

On Sunday, the journalist and philanthropist, 54, made an appearance at the annual Academy Awards gathering with her fiancé Jeff Bezos, as she wore an eye-popping sheer red dress.

The low-cut gown, from Lever Couture, featured a dramatic, ruffled sheer train that matched the carpet itself, as Sánchez paired it with some nude heels and plenty of diamond jewelry on both her neck and ears.

Bezos, 60, decided to keep his look classic, as he rocked a sleek black suit and bow tie, with a white button-up shirt and gold on his wrist.

After the event, Sánchez posted photos of her all-red fit to Instagram, alongside the caption: "Most magical evening ❤️." She also reshared a photo from Sofía Vergara — featuring Sánchez, Bezos, Kim Kardashian, Kris Jenner, Demi Lovato and Lenny Kravitz all posing together.

Their outing comes just a day after the Amazon CEO and Sánchez stepped out for the Chanel and Charles Finch Annual Pre-Oscar Dinner at Beverly Hills’ Polo Lounge on Saturday. During the event, Bezos kept things more casual in a grey blazer, matching trousers, black dress shoes and a black sweater.

Sánchez, on the other hand, opted for a fancy all-black look with a matching Chanel clutch and plenty of silver to accessorize. She paired her black long-sleeve dress (with a plunging V-neck) with layered chokers and some glossy lip courtesy of Chanel.

Bezos and Sánchez have been together for over four years and PEOPLE confirmed their engagement last May. During their vacation together in the South of France around that time, an insider said that the duo were "on cloud nine — so happy and madly in love."

"Her engagement ring is beyond stunning,” the source added. “And huge! She keeps playing with it and looking at it. You can tell she loves it.”

In the months since, the pair have enjoyed New York Fashion Week together, hit up Art Basal in Miami, stepped out at Milan Fashion Week, and even supported some major achievements in each others' careers.

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At This Is About Humanity’s 5th Anniversary Soirée in August, Sánchez was honored for her philanthropic efforts and also gave a speech at the event for the organization, which focuses on separated families at the U.S. and Mexico border. She even mentioned her partner during the big moment, citing Bezos as an inspiration.

"I want to thank each and every one of you for coming out here today, and I want to thank you all for supporting This is About Humanity," Sánchez said to the crowd in Los Angeles. "Thank you, and Jeff, I just want to say thank you for inspiring me to go out into the world and make a difference."

Sánchez was later honored at the 21st Annual Living Legends of Aviation Awards at the Beverly Hilton in January, where she accepted the Elling Halvorson Vertical Flight Hall of Fame Award for her expertise as a helicopter pilot. Bezos praised her accomplishment then, too, writing on Instagram that he was "proud" of his partner.