Mystery diamond buyer revealed: Hong Kong billionaire Joseph Lau spends US$48m on ‘Blue Moon Diamond’ for seven-year-old daughter
The stunning purchase came one day after tycoon paid US$28m for a pink stone - and he has named both diamonds after daughter Josephine
The mystery surrounding the identity of a Hong Kong-based diamond buyer who now owns three of the world’s most expensive gems has been revealed: billionaire fugitive Joseph Lau Luen-hung has confirmed to the South China Morning Post that he was the buyer of the diamonds, and that he had renamed them after his seven-year-old daughter Josephine.
The rare and flawless 12.03 carat “Blue Moon Diamond” sold on Wednesday for 48.6 million Swiss francs (US$48.4 million), setting world records for any gemstone at auction, Sotheby's said.
Lau, the former chairman of Chinese Estates Holdings, is listed by Forbes as the sixth richest man in Hong Kong and 114th wealthiest globally, with estimated assets worth US$9.8 billion as of November.
READ MORE: Joseph Lau sits on paper profit of HK$5b after Chinese Estate deals
He is also a fugitive, after being jailed in absentia in Macau in March last year for his part in a bribes-for-land racket involving Ao Man-long, the most corrupt public official ever brought to justice in the city's history. He received a five-year jail term, but has not served one day in prison because the former Portuguese enclave does not have an extradition treaty with Hong Kong.
Macau's Court of Second Instance yesterday rejected appeals by Lau and Steven Lo Kit-sing against their bribery and money laundering convictions. The court upheld sentences of five years and three months against the pair.
The sale came only one day after Lau paid 28.7 million Swiss francs for a magnificent 16.08 carat pink diamond at Christie’s.