Joni Mitchell Jokes 'I Can Retire Now' After Touching Tribute as MusiCares' Person of the Year

Some of music's biggest names came together on Friday night to honor Joni Mitchell, the MusiCares Person of the Year.

The location of the Las Vegas gala, conveniently enough, used to be a parking lot decades ago.

For well over three hours, guests wined and dined while listening to a bevy of iconic and modern-day artists cover Mitchell's songs. Some musicians were giddy about just being in the same room as the "River" singer, whereas others shared personal stories of how Mitchell, 78, influenced them.

"We are all better artists because of the lines you dared to cross," Billy Porter said ahead of a moving performance of "Both Sides Now." "Joni Mitchell, you are marvelous."

In addition to performances by Brandi Carlile, Beck, John Legend, Mickey Guyton, and more, A-list artists also sent in video tributes. Lionel Richie spoke of buying a house across from Mitchell's and plotting to casually bump into her one day (it never worked, but she did eventually invite him over).

Elton John said in a vignette, "You've influenced me so much with your chord changes and ability to surprise and delve further into songwriting. Not many people dared to do that, but you did."

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Prior to the Grammy-related gala, jazz legend Herbie Hancock spoke to PEOPLE about all the concerts he and Mitchell did together for different causes over the years. Little did he know, he we would later be rewarded for his friendship.

"Neither one of us got paid. We gave up our music for what we thought were great causes," he said. "Then one day she gave me a present. It was a watch, a Corum watch, and on the back it says, 'He Played Real Good For Free.' "

"I didn't even know at the time that was one of her songs," Hancock continued. "I just have the watch, but I don't wear it. I keep it in a special place."

Upon receiving her award at MGM Grand, Mitchell, who walked with a cane, thanked the performers and even threw in some humor.

"That was such an incredible evening for me. To hear my music performed so well by everyone that was on stage, I can retire now and just let other people do it," she joked.

To end the evening just after 11 p.m. local time, Mitchell got on stage and sang "The Circle Game" and "Big Yellow Taxi" with the slew of performers from the night. However, they all quieted down to let Mitchell have the last words of the evening: "And put up a parking lot."