This Billionaire Dad Did the Only Thing Left: Bought His Daughter a $50M Diamond Ring

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Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever

This is a nice thing someone can do for their child. Or is it?

This billionaire dad buys his daughter the most expensive diamond ever. Is she a spoiled kid?

Let’s find out why he paid almost $50 million for the most expensive diamond ever!

A while ago we did a story about the most expensive diamond ever and we said that the precious stone was on sale and experts were estimate it will sell for $35 million at auction.

Well, they were wrong.

Hong Kong billionaire Joseph Lau broke that estimation when paid $48.5 million for the “Blue Moon” diamond at an auction.

He did not only buy the stone at Sotheby’s auction, but he also renamed the 29.62-carat diamond “Blue Moon of Josephine” in honor of his daughter.

Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever
Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever

With this sale, the diamond became the most expensive jewel ever sold at auction, according to Sotheby’s BID 0.41%.

The stone did not only broke that record but also the one for the highest-ever price per carat, over 4 million dollars.

The Blue Moon diamond is said to have been discovered a year ago in South Africa and attracted a tense bidding war that lasted eight minutes before Lau stood out victorious.

Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever
Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever

This gemstone has been described by experts as ‘internally flawless’ and is the most expensive jewel ever sold.

The previous record was held by a jewel bought at auction; it was a 24.78-carat pink diamond dubbed the “Graff Pink” which sold for $45.6 million in 2010 to Laurence Graff, a London jewelry dealer.

But this diamond wasn’t the only thing that this rich father bought. Before purchasing the diamond, Lau also paid $28.5 million of a 16.08-carat pink diamond that he also renamed the “Sweet Josephine” after his daughter.

Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever
Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever

That adds to a growing collection for young Josephine. Lau bought a blue diamond in 2009 for $9.5 million, naming it the “Star of Josephine.”

Lau was not done either, the next day his team crossed town to another auction and bought a 12.03 carat blue moon diamond, a rare stone said to be the largest known blue ‘fancy vivid’ diamond ever found.

But that’s nothing for the 114th richest man on the planet. According to Forbes, Lau has a net worth estimated at more than $11.5 billion dollars.

Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever
Billionaire Dad Buys his Daughter the Most Expensive Diamond Ever

The property tycoon has chosen recently to show his love for his daughter, Josephine Lau, with two eye-popping diamond rings after going on a shopping spree at a jewelry auction in Geneva, Switzerland.

What do you think about this dad who bought his daughter such expensive diamonds?

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