
Imelda Marcos Diamond Ring
Well, what’s a year in review without a little literary shock at the spendthrift nature of some of the world’s most famous, or infamous, public figures? When we flip through the yearbook of those most memorable moments in casual spending and measuring of celebrity jewelry and fortune, no giant shopping spree of the latest celebutante matches up to the notorious Imelda Marcos whose history is rife with squander, and whose every public move is the closest to a modern-day Marie Antoinette that we have ever seen. Imelda Marcos, beauty queen and widow of Ferdinand Marcos, the famously wastrel former president of the Philippines, gave a special performance for the public, as she stood on her balcony soon after her 80th birthday this past year. She announced that she is completely broke…while prominently displaying a 22 carat diamond ring on her finger.
Of course, most of us are unlikely to ever lay eyes on a 5 carat diamond ring, much less a 22 carat diamond ring, in our lives…but of course we should feel very sorry for the aging financial tyrant because clearly she suffers greatly, despite her display of this seemingly meaningless wealth. The diamond ring, she said, is actually an engagement ring from her late husband, a diamond gift given to her on their engagement 55 years ago. Ferdinand Marcos, who was the president of the Philippines for 8 years in the late 60′s and early 70′s, is now legendary for his legacy of embezzlement, ill-gotten wealth, and governmental policies which seemed to be the actions of a man creating his own personal dynasty despite the incredible poverty of the people who helped to elect him. For years we have enjoyed a long list of amusing and sometimes tasteless events from the Marcos family involving unethically acquired wealth and dishonorable spending, always defended by Imelda with little remorse.
This interview came on the back of demands Imelda Marcos has made that her jewelry, which holds an estimated worth of $300 million, be returned to her, rather than sold by the Philippine government. She says that she would keep the jewelry as a national treasure. Of course. One of the more noteworthy pieces of jewelry in the collection is a 150.01 carat ruby pendant ringed in diamonds. The ruby itself is larger than an average person’s thumb. Perhaps the 22-carat diamond ring on her wrinkled finger doesn’t seem like such a large piece of wealth to Ferdinand’s spoiled wife, who for years was the owner of one of the world’s most extravagant jewelry collections. Anyway, as usual the world must enjoy the entertainment of those whose comprehension of wealth and poverty is beyond the recognition of all reasonable people. As Imelda Marcos said from her luxurious balcony in Manila, “All the beautiful things I gave …am I being persecuted for that?” Of course you are, Imelda. And hopefully when all is said and done, you’ll have a little more appreciation for that tiny diamond ring you wear.






