Paris Hilton ($4.7 million)

When one rich person named Paris gets engaged to another rich person named Paris, the results can be pretty opulent. Hotel heiress Paris Hilton was once engaged to Paris Latsis, and she stated that the ring was so big it hurt her hand to wear it. A large rectangular diamond was in the center of the ring, accented by two baguette diamonds on each side. The band was made of white gold, and the middle stone was very large, even by millionaire standards. When the couple broke up, Hilton auctioned off the ring to help those who were affected by Hurricane Katrina.