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Controversial Hong Kong Billionaire Names the Most Expensive Diamonds in the World after his 7 year-old Daughter

BellaNaija.com

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Most Expensive Pink DiamondThis week 64 year-old Joseph Lau, a Hong Kong billionaire, broke the record for the most expensive gemstone in the world, twice.

He first bought a 16.08 carat fancy pink diamond from Christie’s on Tuesday November 10, 2015. Sold at £19 million, it is the most valuable pink diamond in the world.

On November 11, he bought a ‘blue moon’ diamond, 12.03-carat in size, with a an internally flawless clarity. It was sold at $48.5 million, from Sotheby’s.Most Expensive Diamond

The billionaire is a well-known lover of luxury, but he is also trailed by controversy.

His ‘collection’ includes

  • 10,000 bottles of fine wine, which many people consider among the best in the world
  • an Andy Warhol portrait of Chairman Mao, that is seven-feet high
  • a fleet of private jets

He built up his wealth as a property tycoon and is now Hong Kong’s 6th richest man. However, according to Telegraph UK,

He was handed a five-year jail term last year when he was found guilty with a business partner of corruption and money laundering over a land deal in Macao.

However, Mr Lau, who stood down as chairman of Chinese Estates Holdings after the case, will not have to serve the sentence unless he enters the former Portuguese colony.

He first bought the diamonds anonymously, but when he named them both after his daughter, “The Blue Moon of Josephine” and “Sweet Josephine” for the pink diamond, people put two and two together.

The sales have now been confirmed by his secretary, to be in honour of his daughter, one of his six children from three different women.

Photo Credit: Reuters | Source: Telegraph UK

9 Comments

  1. ATL's finest

    November 12, 2015 at 5:06 pm

    Diamonds every girls BEST FRIEND . I love those ROCKS! Yes these are the things I love because I consider them as treasure that can be passed on from Generation to Generation. I do rather invest my $$$$ buying these & it will worth more in the future than some Chanel purse or anything else. What an amazing piece of Gem.???????? way to Go Ms. JOSSY..

    • nunulicious

      November 12, 2015 at 7:36 pm

      How are they “every girls best friend?” Have you ever owned one?

    • ATL's finest

      November 12, 2015 at 8:42 pm

      @ Nunulicious don’t people inherit treasures like this from their parents? Like as if U know me from Genesis. Pls remain in your poverty & don’t extend it anywhere else. Speak for Ur self.

    • Sadia

      November 12, 2015 at 10:57 pm

      @nunulicious LOOOOOOLLL??????

  2. Chi-e-z

    November 12, 2015 at 9:20 pm

    Y I don’t care for extravaganza. I’d like to acknowledge a man for valuing his daughter. Cause if you see the way some fathers treat their daughters inhumane because they are females and not sons it makes you appreciate the ones that value us

  3. OMG

    November 13, 2015 at 12:40 am

    WHERE IS THE DIAMOND COMING FROM? surely from a war torn African nation.

  4. memebaby

    November 13, 2015 at 12:50 am

    awww i love how he named them after his daughter.. spoilttt! like if daddy does this..then bf/gf has to come correct! daddy”s love

  5. Ebere

    November 13, 2015 at 1:22 am

    He is a good father, but he has just raised the bar very high for his little girl’s potential suitors………Good luck pleasing a girl whom her father named after a $48.5million diamond!!!!!!!!!

  6. Mabel

    November 13, 2015 at 1:55 am

    Boy o boy, you can’t tell people how to spend their money, but sometimes you just gotta shake your head when you hear some stories.

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