Laurence Graff
Laurence Graff | |
|---|---|
| Born | June 13, 1938 Stepney, London, England |
| Occupation(s) | Jeweller, entrepreneur |
| Known for | Founder of Graff Diamonds |
Laurence Graff (born 13 June 1938) is a British jeweller and billionaire entrepreneur, renowned as the founder of Graff Diamonds, a prominent name in the luxury jewellery and gemstone market.
Early life
Born in Stepney in 1938, Graff hails from a Jewish background, with his mother Rebecca Segal originating from Romania and his father Harry Graff from Russia. His younger brother Raymond was born in 1947.
Career
Prompted by his mother’s advice to acquire a practical skill, Graff left formal education at age 14 to begin an apprenticeship in jewellery making in London. Initially collaborating with jeweller Schindler, he soon began selling his own creations independently throughout England. By 1962, he owned two jewellery outlets, one of which was situated in Hatton Garden.
Graff Diamonds was established by him in 1960. In 1966, he enlisted designer Robert Thomas to craft a diamond ribbon bracelet that won the prestigious De Beers Diamond International Awards. By 1974, Graff had shifted focus toward affluent clients from the Middle East, including long-term patron Hassanal Bolkiah, Sultan of Brunei. Another notable customer was Prince Turki II bin Abdulaziz Al Saud. Presently, Graff Diamonds boasts over 35 retail locations spanning Africa, Asia, Europe, the Middle East, and the United States.
In recognition of his contributions to the jewellery sector, Graff was honoured as an Officer of the Order of the British Empire (OBE) during the 2013 Birthday Honours.
The Sunday Times Rich List for 2020 estimated that Graff and his son Francois collectively hold a net worth of £3.785 billion.
Re-cut of the Wittelsbach Diamond
In 2008, Graff purchased the Wittelsbach Diamond for £16.4 million, substantially exceeding its £9 million estimated price. Nearly two years afterward, he commissioned three expert cutters to re-polish the gem, eliminating chips and enhancing its clarity while reducing its carat weight from to . Some critics likened this alteration to making the Mona Lisa "prettier." However, gemologist Richard W. Wise highlighted that the recut improved the diamond’s GIA grading from Fancy Deep Grayish Blue to Fancy Deep Blue and upgraded clarity from VS2 to Internally Flawless (IF). The original double stellate brilliant facet design was retained, preserving the stone’s overall aesthetic.
Personal life
Graff married Anne-Marie, who was French-born, in 1962; they eventually divorced. Together they had three children: François Xavier, Kristelle, and Stephane. François Xavier Graff currently holds the position of CEO within the family enterprise.
Through Graff Diamonds Corp., a holding company registered in the Cayman Islands, Graff owns a 60% interest in the business; his former wife Anne-Marie retains ownership of the remaining shares. Despite this division, Graff maintains full control over all operational and strategic aspects as founder.
He is a father of five children overall and resides in Gstaad, Switzerland.
A passionate collector of art, Graff originally concentrated on Impressionist works before transitioning to contemporary pieces. Among his notable acquisitions is Andy Warhol’s Liz, purchased for $12.6 million.