Beyonce reveals $5 million engagement ring

New York—Though pop star Beyoncé Knowles tied the knot with rapper Jay-Z about five months back, she's finally revealed her engagement ring, and it's quite a knockout. Designed by Lorraine Schwartz, whose jewelry Beyoncé tends to favor for red-carpet appearances, the platinum ring features a jaw-dropping 18-carat diamond and is valued at $5 million. Beyoncé gave the ring its public debut on Sept. 5 at Conde Nast's "Fashion Rocks" event in New York City. The annual fete is a celebration of both fashion and music.