Billionaire Bought $55m Necklace for Daughter-in-Law

Billionaire Bought $55m Necklace for Daughter-in-Law
Pic shows the $55m L'Incomparable necklace, and the yellow diamond re-cut as the $12.4m Golden Canary.

The buyer of the world’s most valuable necklace – a $55m creation including a flawless 407-carat yellow diamond – has been revealed as Indian billionaire Nita Ambani.

She’s the wife of Mukesh Ambani, who is heir to the Mumbai-based multinational conglomerate Reliance Industries, and whose fortune is estimated by Forbes at $84.7bn.

The necklace, known as L’Incomparable, was designed by Mouawad, the Lebanese jeweler founded in 1890, and was certified by Guinness World Records in 2013 as the world’s most valuable necklace.

The 407.48-carat yellow diamond was suspended from a 229.52-carat white diamond necklace intertwined by 18-karat rose gold branchlets.

Nita Ambani bought it her daughter-in-law Shloka Mehta, who married her son, Akash, in March 2019, according to a Luxury Launches report.

What has since happened to the necklace is unclear. The centerpiece yellow diamond was subsequently re-cut from a shield-shape into a pear-shaped 303.1-carat gem and re-named as the Golden Canary. It sold for $12.4m at Sotheby’s New York in December 2022.

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