Hong Kong billionaire Joseph Lau collects things. He owns pricey paintings by Paul Gauguin and Andy Warhol. He buys the world’s most rare and expensive jewels. But he doesn’t keep the gems for himself. He gives them to his young daughters. Now Lau has bought his seven-year-old the world’s priciest diamond.
This diamond isn’t daughter Josephine’s first rock. In 2009, Lau acquired another diamond for her. He paid $9.5 million for a large, bright blue diamond. He named it the “Star of Josephine.”
In 2014, Lau bought two pieces for 13-year-old daughter Zoe. One was a big blue diamond. He paid $33 million for it. The other was a huge ruby-and-diamond brooch for $8.4 million. Lau renamed both jewels after his daughter: “Zoe Diamond” and “Zoe Red.”
Joseph Lau made his fortune in ceiling fans (really!), stocks, and real estate. He owns houses, boats, planes, and at least one jet.
But Lau is known for more than his collections. He is also known for many complicated and sad relationships. Wrong actions in one area can spill over into other areas.
In 2014, Lau and his business partner were found guilty of bribery and money laundering. Both men pleaded not guilty. But the judge sentenced them to five years in jail. The men skipped town and fled to Hong Kong. As long as they don’t return to the place they were convicted, they probably won’t serve time. But how sad for Lau’s children!
Evidently, Lau’s criminal record hasn’t hurt his bank account. In November, Lau was back to diamond-buying. This time he set a world record for the amount of money spent on a jewel. First, he paid $28.5 million for a massive pink diamond. He named it “Sweet Josephine.” The very next day, Lau paid $48.5 million for a monster “Blue Moon” diamond.
The diamond is one of the largest blue diamonds ever. “Blue moon” in its name refers to the expression “once in a blue moon”—meaning something rare. Lau promptly renamed that gem. Perhaps you guessed it: “The Blue Moon of Josephine.”
Money and possessions can’t buy happiness. Clothes, cars, and rare gems have no lasting value. The Bible gets to the heart of the matter: “What does it profit a man to gain the whole world and forfeit his soul?” (Mark 8:36)
