The celebrity world has been abuzz with news of the most highly anticipated engagement in recent memory – Brad Pitt and Angelina Jolie. The high-profile humanitarian couple, who are raising three adopted children and three biological children together, have been a couple for seven years. They confirmed their engaged status April 11th after Angelina Jolie was spotted wearing gorgeous new bling on her left ring finger.

The ring features a 7-carat flawless emerald cut diamond surrounded by another 9 carats of emerald cut diamonds. Angelina Jolie’s engagement ring has an estimated value of between $500,000 and $1,000,000!

The 16-carat stunner was designed by Brad Pitt himself with help from Robert Procop, Beverly Hills jeweler and former CEO of Asprey & Garrard – a company known best as the jewelry designers for the English royal family. Robert Procop was already familiar with Angelina Jolie’s style; he’s designed red carpet worthy pieces for her and offers a collection of jewelry inspired by the actress on his website.

Angelina Jolie’s engagement ring reportedly took a year to design, with each element holding a special significance. The diamonds around the band were cut specifically for Angelina Jolie’s hand, and each diamond has a “distinctive faceting to a shape and size that perfectly suits Angelina’s long, slender fingers,” according to the jeweler.

Although a date for the wedding has yet to be announced, we know for certain Angelina’s wedding plans – from shoes to dress to wedding jewelry – will be the talk of the town until she says “I do!”

*Photo credit: Pop Sugar