World's Most Expensive Diamond Purchased for Seven-Year-Old

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The Squander Staff
World's Most Expensive Diamond Purchased for Seven-Year-Old

The world's most expensive diamond, simply named 'Blue Moon,' has sold at auction for $48.4 million and was purchased as a gift for the seven-year-old daughter of a billionaire.

Hong Kong's sixth richest man Joseph Lau, of property firm China Estates Holdings, is estimated by Forbes to be worth $10.2 billion dollars and has a thing for super expensive blue diamonds.

This is the third multi-million diamond Lau has purchased since 2009, paying $9.48 million for the 'Star of Josephine' first and $32.6 million for the 'Zoe Diamond' after, named after his daughters Zoe and Josephine.

He consequentially re-named his latest blue diamond purchase 'Blue Moon of Josephine," named once again after his lucky seven-year-old daughter who the diamond will be gifted to, according to CNN.

According to CBS News, Lau spent a total of $77 million this week purchasing diamonds for Josephine.

To make some of the money back, Lau set another record by selling a Hong Kong office tower for $12.5 billion the very next day.

In addition to having an affinity for purchasing elementary school-aged children the world's finest products, Lau is also notably wanted on corruption charges in the Portuguese colony of Macau, where has been sentenced to five years in prison but is avoiding it by not going back.

World's most expensive diamond purchaser Joseph Lau's Net Worth: $10.2 Billion

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