Russell Simmons

  • Precious Ponahalo Diamonds Sold for $6.26 million

    by Kyle O.
    October 26, 2008

    Have you ever wanted your own set of authentic and valuable diamonds with quality of the finest grade? Well Mr. Amer Radwan from the Radwan Diamond and Jewelry Trading in Dubai, United Arabs Emirates must have because he recently paid $4.11 million for  the 102.11 carat diamond and $2.15 million for the smaller 70.87 carat Ponahalo Diamond in a winning bid totaling $6.26 million at a Christie’s auction held at the Rockefeller Center in New York City.

    The 2 stones were cut from the 316 carat Ponahalo diamond mined in 2005 at the De Beers Venetian mine in South Africa and were cut by Steinmetz Diamond Group. A fraction of the proceeds will be donated to Hip Hop mogul, Russell Simmons’ “Diamond Empowerment Foundation” (DEF),  a  non-profit organization which establishes programs encouraging education in Africa.

    Russell Simmons is shown above with Ugandan Model Kiara Kabukuru displaying the diamonds. I’m not sure whether this purchase was business or pleasure but I hope Mr. Amer Radwan is putting these diamonds to good use because with that kind of money I would definitely have them somewhere on my body every single day.