Formula 1 star George Russell is engaged. The Mercedes driver proposed to his long-term partner Carmen Montero Mundt at a candlelit dinner on the beach, and the couple shared the news on August 9, 2026 with a joint Instagram post: a ring emoji, a white heart, and a photo that had fans zooming in within minutes. The reason for all the attention? A spectacular oval yellow diamond.
Russell and Montero Mundt have been together since 2020, when a mutual friend introduced them. Carmen, born in Spain and based in London, studied at the University of Westminster and has built her own career in finance and, more recently, as co-founder of the skincare brand Barriers. Her new ring, though, is what everyone is talking about.
The ring, in detail
Carmen’s engagement ring is an oval-cut yellow diamond, and it is a big one. Jewelry experts who studied the announcement photos put the center stone at roughly 8 to 10 carats, with estimates of its value reaching as high as $1.35 million. Yellow diamonds like this are "fancy color" stones, far rarer in nature than colorless diamonds, which is part of what makes the ring so striking. Set on a slim band that lets the color take center stage, it is a thoroughly modern choice for a couple who clearly don’t mind standing out.
Why a yellow diamond stands out
Colorless diamonds are graded on how little color they show; fancy yellow diamonds are prized for exactly the opposite. A warm, sunny yellow reads as joyful and distinctive, and it has become a favorite of celebrities looking for something beyond the classic white solitaire. Because a strong, even yellow is uncommon in mined stones, natural fancy-yellow diamonds command a serious premium, which is a large part of that seven-figure estimate.
Why the oval cut works
The oval is having a moment, and for good reason. Its elongated shape flatters the finger and makes a stone look larger than the same carat weight in a round cut, while keeping much of the round’s brilliance and fire. On a yellow diamond it does something extra, spreading the color across a broad, luminous surface. It is a cut that looks generous and graceful at once, ideal for a statement center stone like Carmen’s.
How to get the look
You don’t need a Formula 1 salary to wear a ring in the same spirit. Our Yellow Oval Lab Grown Diamond Triangle Side Engagement Ring, part of the Olympia design, pairs a vivid oval yellow lab-grown diamond with slim triangular side stones that frame the color beautifully. Because it’s lab-grown, the yellow diamond is chemically and optically identical to a mined one, at a tiny fraction of the price: it starts from $2,500, rather than seven figures.
See the full ring on the product page, or explore our wider engagement rings and large diamond rings collections for more oval and fancy-color options.
Is a yellow oval diamond right for you?
A yellow oval suits someone who wants warmth and personality rather than a traditional white solitaire. It photographs beautifully and never blends into the crowd. Yellow pairs especially well with yellow gold, which amplifies the color, or with a white setting for contrast. If you love the look but want the stone even bigger, lab-grown makes that easy on the budget. And if you’re not sure, a virtual appointment is the simplest way to compare shapes and colors side by side.
Frequently asked
What kind of ring did George Russell propose with?
An oval-cut yellow diamond, a rare fancy-color stone that jewelry experts have estimated at around 8 to 10 carats. It sits on a slim band that keeps the focus on the color.
How much is Carmen Montero Mundt’s engagement ring worth?
Experts have estimated the ring at up to $1.35 million, driven by the size and rarity of the natural yellow diamond. The couple haven’t confirmed exact figures, so treat the valuation as an informed estimate.
What is a yellow diamond?
A fancy-color diamond with a natural, or in lab-grown stones created, yellow body color. Strong, even yellows are rare in mined diamonds, which makes them highly prized and, in natural form, expensive.
Can I get a similar ring for less?
Yes. A lab-grown yellow oval like our Olympia design gives you the same look and a real diamond for a fraction of the price, starting from $2,500 rather than seven figures.
Who is Carmen Montero Mundt?
George Russell’s fiancée: a Spanish-born, London-based businesswoman who studied at the University of Westminster, worked in finance, and co-founded the skincare brand Barriers. She and Russell have been together since 2020.
