The 60-year-old is set to perform her new single, Medellín, at the Vegas ceremony alongside South American artist, Maluma.
The singer is spending up big on a seven-minute act that will feature CGI and holograms with no financial assistance from Billboard, according to TMZ.
The track comes from her new album, MadameX , her 14th studio album which will be released on June 14. It is her first since 2015’s Rebel Heart.
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Hey big spender! Madonna is forking out $5 million on CGI and hologram effects for her upcoming debut performance of her new single Medellin at the Billboard Music Awards on Wednesday
Her Billboard act is being described as ‘one of the ambitious performances ever attempted on live TV,’ according to the gossip site.
The singer last performed at the Billboard awards in 2016 to honor the late performer Prince. She sung a rendition of his hit Purple Rain.
Madonna has spent the past few days sharing behind the scenes shots and videos of her intense rehearsal in London.
One clip saw Madonna complaining about her sore feet while dressed in high heels and a risque frock.
‘Madame ❌ Wants her feet to hurt………She knows. that pain is beauty! ���� #BBMAs,’ she captioned the video on Sunday.
Getting ready for the spectacle: The has spent the past few days sharing behind the scenes shots and videos of her intense rehearsal
Stay tuned: The singer wants her Billboard performance to be the talk of the night
‘Pain is beauty’: The 60-year-old complained that her feet were sore, but refused to take off her heels as she pushed through the rehearsal
However, when an assistant offered to take off her heels, she told them ‘no’ and that she’d rather be in pain.
The Like A Virgin singer was dressed in a sheer bodysuit with diamontes throughout. She added fishnet stocking and accessorised with a bedazzled eye-patch.
Madonna is focusing on her music career again after taking time out to be a ‘soccer mom’ in Lisbon.
She relocated to the Portuguese capital in 2017 after her son David Banda, 13, signed for football club Benfica’s youth academy, but she began to feel low because she had ‘no mates’ in the city and spent most of her time transporting him to school and football matches.
Focused on her comeback: Madonna is releasing her first album since 2015
Speaking at an MTV Q&A in London last week, she said: ‘I didn’t go to Lisbon to make a record, that was the last thing on my mind.
‘My son wanted to be a professional soccer player so I kind of just spun the globe and did a lot of research for academies for boys to train and Lisbon ended up being my favourite city of the options.
‘I went to Lisbon to be a soccer mom.
‘I went there thinking it would be an adventure but I found myself just going to school and football matches.
‘Really I was Billy no mates. I got a little bit depressed.
‘And I thought I need to make friends and make friends.’
But the Like A Virgin hitmaker managed to forge new friendships, and her new pals inspired her to make her forthcoming album.
Collaboration: The song features South American artist, Maluma, who has also been rehearsing with the star
She added: ‘I started to go out a bit and most of the people that I met were artists or musicians.
‘I started getting invited to people’s homes and I went to these living room sessions.
‘People would drink wine and eat food and start playing instruments and singing.
‘I was like, ‘What’s going on here?’
‘Artists perform and they are doing it for fun and passion and don’t get paid?’
Madonna is also expected to perform a song off this new album at the the Eurovision Song Contest in Tel Aviv, Israel next month.
It has been confirmed that the pop superstar will perform, where she is expected to sing two songs, a new track and a classic hit.
And later this year, Madonna is also set to go on her first world tour in three years.
An industry source said: ‘Madonna is really excited about performing her new music and has spared no expense with the production. There will be the usual army of dancers, slick lighting and even some pyrotechnics.
‘She might be 60 but she works incredibly hard to keep her body in the best shape possible and plans to show it off in some amazing outfits, so fans can expect an array of dramatic costume changes.’