Celebrity Engagements: How Much Do They Cost and What Are Their Effects?

Celebrity engagements are causing public reactions especially in resonse to enagement costs. Courtesy of Aric Berger via Pexels.

When Taylor Swift announced her engagement to Travis Kelce on Aug. 26, the internet went crazy. The news of their engagement overtook headlines, putting celebrity engagements into the limelight. Their recent engagement also brings unbridled curiosity: How much did the new rock on Swift’s hand cost? 

Immediately following the nation’s English and gym teacher’s engagement, close-up breakdowns of Swift’s ring have plastered the internet. Taking a closer look, US Weekly reports that Taylor’s ring is estimated to be worth $950,000 to $1.27 million, sporting seven- to 10-carats, making Taylor’s ring one of celebrities’ finest. 

But it’s not just Swift’s engagement ring that has recently made the headlines. Zendaya has also been spotted in public sporting a huge ring on her left hand. Though Zendaya herself hasn’t shared much about her new engagement to Tom Holland, fans have guessed that the five-carat, east-west cushion diamond ring is from Jessica McCormack, standing at around $200,000. 

These insane ring prices are also shared with the newly engaged Selena Gomez. On Dec. 11, 2024, Benny Blanco proposed to Gomez with a $225,000, six-carat marquise diamond ring. PEOPLE Magazine reports that less than 5% of diamonds are marquise, making Gomez’s ring very rare. 

However, these recent engagements are not the only ones that have made an impact on society’s economic scale. BRIDES online magazine covers a wide range of celebrities and their wedding-related topics, describing how much celebrities' rings actually cost. Paris Hilton’s Emerald-cut, 10- to 20-carat white diamond ring cost around $2 million. The price only increases with Jennifer Lopez’s Blue diamond, 8.5-carat radiant-cut ring, costing $4 million. Following the trend with Beyonce’s white diamond, 24-carat emerald-cut ring, costing a whopping $5 million.

With celebrities displaying their boisterous rings, news coverage becomes overshadowed, focusing solely on our favored superstars. During Swift’s engagement, news outlets such as Fox News overlooked President Donald Trump's cabinet meeting in favor of reporting on the new proposal. 

With coverage being focused on these celebrities, major news events like Israel's attack on Palestine don’t get the attention needed to bring awareness to the situation. This lack of media focus means that many people remain in the dark and uninformed about ongoing problems. 

This information begs the question of whether or not these news outlets should be reporting on celebrity news at all. Not only does it undermine important global events, but it also creates a huge wealth gap between the average person and the extremely wealthy. 

Information from The Knot 2024 Jewelry and Engagement study reports that the average cost of an engagement ring is roughly $5,200. That price comes with serious investments, and for the standard person, something unattainable without a loan. 

On the other side of the spectrum, The Knot also reported that only 5% of people spend over $15,000 on engagement rings, limiting the purchase of these insanely priced rings by making them only attainable for the wealthy. 

With the news solely focusing on the finances of famous singers and actors, it drives the wealth gap even farther, providing visuals on how they spend their fortunes on trivial monetary possessions, and in this instance, on engagement rings. 

When citizens watch the news, it influences them, telling them what they should and shouldn’t be invested in. However, because what's being broadcast isn’t about important recent events, but instead about their role models' flashy rings, the average person doesn’t involve themselves in political matters. 

These flashy displays of wealth and luxury capture the interest of the public, driving the wealth gap and diverting attention away from global issues. Still, one thing is clear: As long as people love celebrities, their curiosities surrounding their personal relationship statuses will continue. News outlets are forced to accept this reality, broadcasting what they know people will watch, regardless of whether it's what should be aired.  

Public reactions reveal what society values, even if it is detrimental to their economic standings. But if one thing is certain, it's that we're all cheering for Swift and her new engagement.