Dad Buys 7-Year-Old Kid $77 Million Worth of Diamonds

A Chinese billionaire thought that $77 million dollars worth of rare diamonds would be the perfect gift for his 7-year-old daughter. Who is this dad? And, can he be duplicated? Seriously though, we would have been just as happy with a Happy Meal... as a seven-year-old that is...

Joseph Lau, who is either the sweetest or craziest dad in the world, purchased the two massive rocks for his daughter at a Sotheby's auction. The 12-carat blue colored diamond, which he later named the "Blue Moon of Josephine after her, went for a record-setting price of $48.5 million, while the 16-carat pink colored stone—now called "Sweet Josephine"— was a steal at $28.5 million, reports the New York Post.

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This 12.03-carat “Blue Moon” diamond sold Wednesday, Nov. 11, 2015 for a record-setting $48.5 million. | Source

The polished blue gem was cut from a 29.6-carat diamond discovered last year in South Africa's Cullinan mine, which also yielded the 530-carat Star of Africa blue diamond that is part of the British crown jewels, and the Smithsonian Institution's "Blue Heart" discovered in 1908.

Sotheby's says experts took five months for an "intense study" of the original Blue Moon diamond, and a master cutter took another three months to craft, cut and polish the stone. The auction house said in a video that the Cullinan mine was the "only reliable source in the world for blue diamonds," and only a tiny percentage of those found in it contain even a trace of blue. Source: abc7