A Hong Kong tycoon, who is the 114th richest person in the world according to Forbes Lau, purchased the world’s most expensive diamond.

This rare diamond is called ‘Blue Moon’ and weighs 12.03 carats.The diamond was sold at auction at Sotheby’s for $48.4 million. Billionaire Joseph Lau bought it for his 7 year old daughter Josephine and renamed the stone ‘Blue Moon of Josephine’.

A day before Lau purchased a 16.08 carat pink diamond which costed $28.5 million, and he dubbed it ‘Sweet Josephine’.

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