On close inspection, the ring resembles the original engagement band he gave his wife back in 2013, a massive 15 carat Lorraine Schwartz design.

ALSO READ: GoFundMe page raises below $300 for broke rapper

According to E! the 20-carat emerald cut diamond ring was also designed by the same celebrity jewellery maker, Lorraine Schwartz.

The news was shared by the excited mum who took to social media to share clips of the ring.

Diamonds are indeed a girl's best friend!

ALSO READ: Is the rapper openly lying to the world about being broke?

A representative for the jewellery designer told E! News, "The ring is flawless. Not just internally flawless, it's flawless. It's a D-stone, the best diamond there is, type 2A. It's a perfect cushion cut diamond."

We are however surprised by Kanye's new splurge as he recently claimed he was $53m in debt, going further to ask Facebook CEO, Mark Zuckerberg, to assist him financially.

Maybe he got the cash from Access bank who offered to assist him when he begged for sponsors.

ALSO READ: Nigerian bank offers to support Kanye West with $53million debt

Meanwhile, Kim has been vacationing in Miami with her sisters Khloe Kardashian and Kourtney Kardashian.