Lady Gaga Lights up the Oscars Wearing the $30M Tiffany Diamond

It is rare that a piece of jewelry steals the show from a jaw-dropping dress, but that's exactly what happened at the 2019 Oscars in Los Angeles to Lady Gaga. The icy-blonde walked the red carpet in a black Alexander McQueen gown paired with black gloves. While the dress was gorgeous, the piece that drew everyone's attention was the enormous yellow Tiffany & Co. diamond necklace. The 128.54 carat costs $30 million and was once worn by Audrey Hepburn in Breakfast at Tiffany's. However, the necklace wasn't the only shiny object Queen Gaga sported last night—she also won her first Oscars award for Best Original Song.

Considered one of the most important 19th-century gemstone discoveries, the Tiffany Diamond was unearthed in South Africa in 1877 and purchased a year later by jeweler founder Charles Lewis Tiffany. Since then, the piece, which usually rests in a well-kept treasure chest, has been worn exactly three times: first by Mrs. Sheldon Whitehouse at the Tiffany Ball in Rhode Island in 1957, second by Audrey Hepburn at a photo shoot for Breakfast at Tiffany's, and now by singer Lady Gaga, who was nominated for Best Actress and Best Original Song for A Star Is Born at the 91st Academy Awards (and won the latter category).

"Lady Gaga is the ultimate creator, champion and rule-breaker, and I'm thrilled that she will wear the Tiffany Diamond on the red carpet for the first time 141 years after his discovery," said Reed Krakoff, creative director of Tiffany & Co. Stylists Sandra Amador and tom Eerebout continue, "The chance to work with such an incredible piece is a creative dream, there are so many beautiful jewels in the world, but this brilliant diamond, weighing over 128 carats, is truly unique, exactly like Lady Gaga. "

The 32-year-old completed the look with the Fancy Vivid Yellow earrings with white and yellow diamonds.