Many parents would imagine that buying their daughter a Php 5,000 toy vanity table is extravagant. They certainly haven’t met Hong Kong billionaire Joseph Lau, then.
According to a Straits Times report, the tycoon didn’t think twice about buying a 12.03-carat diamond worth $48.4 million, in an auction on Wednesday, November 11, in Geneva, for his 7-year-old daughter Josephine.
This makes it the world’s most expensive diamond. And it now belongs to a primary schooler.
Lau, who is a property magnate also known as “Big Liu”, had spent US$28.5 million for a rare 16.08-carat pink diamond — also for his little girl — from auction house Christie’s, just the day before.
The two diamonds were reportedly renamed “Blue Moon Of Josephine’ and ‘Sweet Josephine’, respectively.
Hong Kong billionaire buys world’s most expensive diamond for daughter: Josephine is reportedly a huge fan of British singing sensation Connie Talbot.
Images from The Daily Mail
Not the first time, probably won’t be the last
Young Josephine, whose mother is Lau’s girlfriend Chan Hoi-wan, already has an impressive jewellery collection thanks to her father, say reports.
In 2009, Lau bought a 7.03-carat blue diamond for $9.48 million. He called it the “Star Of Josephine”.
He also purchased pieces of jewellery for his other, 13-year-old daughter with long-time partner Yvonne Lui, Zoe, last year — a 9.75-carat ‘Zoe Diamond’ ($32.6 million) and a ‘Zoe Red’ ruby (S$8.35 million).
Lau stands at #114 in Forbes’ Billionaires (2015) list and has a net worth of US$10.2 billion, according to Forbes. He is also the sixth richest person in Hong Kong.
The billionaire also has a total of six children from three different women – Chan, Lui and ex-wife Bo Wing Kam, according to reports.
We’d like to throw this question at you: If you had Lau’s resources, would you also buy your children the same thing?
Republished with permission from: theAsianparent Singapore
If you have any insights, questions or comments regarding the topic, please share them in our Comment box below. Like us on Facebook and follow us on Google+ to stay up-to-date on the latest from theAsianparent.com Philippines!
Money Tips
Building a BakuNation
Becoming a Parent
Parenting
Education
Press Room
Rewards
