Iggy Azalea's Engagement Ring from Nick Young Cost Him $500,000

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Nick Young of the Los Angeles Lakers popped the question to Iggy Azalea on his 30th birthday yesterday.

The engagement ring, a 10.43 carat Jason of Beverly Hills piece, is estimated to be worth half a million dollars, according to E!. Young helped design it.

"Nick was very involved in designing the ring," Jason Arasheben, Jason of Beverly Hills CEO, told the site. "We wanted it to be both a ring of Iggy's dreams and a ring that fit her personal style. It is always an honor when a client trusts me to help design a ring that symbolizes one of the most important decisions of their life."

The rock features white diamonds around a yellow center stone set on white gold. Watch the proposal and get a closer look at the beautiful ring and fiancees in Iggy's Instagram posts from last night. Congratulations, love birds!