How much does the ring given to Heart Evangelista cost?
Senator Chiz Escudero previously gifted Heart Evangelista a ring, and here’s how much it cost after it created a loud buzz online recently.
Last year, on Heart Evangelista’s 39th birthday, Senator Chiz Escudero gifted her a ring featuring what netizens believe is a paraíba tourmaline gemstone with diamonds. Paraíba tourmalines are known for their striking and intense blue hues and are among the most coveted gemstones globally.
Many believed it cost much and considering Heart’s taste for luxury, it surely has an excellent and pricey value.
The present was given last year, but recently, it created a loud buzz again after Escudero was linked to alleged anomalous flood control contractors. He faced ethics complaints, which led to his ouster as the Senate president.
The buzz became louder when he was declared the poorest senator again, based on the latest SALNs released by the senators. Escudero has a net worth of PHP 18,840,082.62 with no liabilities as of December 31, 2024. His declared real properties were acquired by succession, and he has business interests in a law firm where he was listed as a named partner.
There were speculations that the ring, estimated to weigh between five to six carats, could be valued at over US$1 million, considering that even smaller 3-carat Brazilian Paraíba tourmalines are reportedly priced around US$450,000. Taking this into account, the rumored cost of the ring appeared inconsistent with his reported net worth of over ₱18 million.
However, based on jewelry expert Kei Chan, citing a report from Manila Standard, the ring’s value had been overestimated by many, and this inflation is especially because of Heart’s reputation as a fashion icon. The expert said that the ring is only a little over PHP 1 million.
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