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Beyonce wore $7.5 million worth of Lorraine Schwartz jewelry for her Dubai performance. Jay-Z proposed to her with a $5 million ring featuring a 24-carat diamond. But what's a queen without her jewels? Beyonce adorned herself with a dazzling array of Lorraine Schwartz jewelry for this Dubai performance, totaling an eye-watering $7.5 million. And before their vow renewal, Jay-Z sealed the deal with a proposal featuring a 24-carat rock. This wasn't just any ring, it had an emerald cut diamond and a double infinity band. The price tag, a cool $5 million.