What Will Zoë Kravitz Do With Her $300K Engagement Ring From Channing Tatum?

When the news of Zoë Kravitz and Channing Tatum calling off their engagement broke earlier this week, people were quick to spot that the Big Little Lies actress had stepped out in New York City without her famous diamond ring. When Tatum popped the question in 2023, he did so with a cushion-cut diamond in a bezel setting mounted in 18-karat yellow gold and blackened white gold. The ring was estimated by some experts to be worth approximately $300,000. However, even though the sparkler may no longer appear on the actress’s left hand, it doesn’t necessarily mean that it’s back in the possession of the Magic Mike star. 

With properties in both New York and California, it’s unclear where the couple’s permanent address is. Yet, luckily, both of these states have the same legal standards when it comes to breaking off an engagement. In both New York and California, Kravitz would be obligated to return the diamond to Tatum—since the jewel would be considered a “conditional gift” in the eyes of the law. As the couple didn’t fulfill the “condition” of the gift (i.e. tying the knot), the Divergent star likely wouldn’t be permitted to keep the diamond. However, it’s also possible that the Blink Twice actor could have allowed his co-star to retain the sparkler if he wanted her to have it. In such a case, if she was uncomfortable with it being a symbol of her broken engagement, Kravitz could transform the ring into something entirely different, such as another piece of jewelry—or give it back of her own volition (which is the likeliest outcome).

The stars first connected in 2017, but they reportedly didn’t find a romantic spark until Tatum starred in a movie Kravitz directed, Pussy Island. “Chan was my first choice, the one I thought of when I wrote this character,” Kravitz told Deadline in 2021. “I just knew from Magic Mike and his live shows, I got the sense he’s a true feminist and I wanted to collaborate with someone who was clearly interested in exploring this subject matter.” After hitting it off on set, the pair revealed their relationship to the public through their joint appearance at the 2021 Met Gala. 

However, even after making things official, they kept their romance fairly private. In 2022, the High Fidelity actress spoke about their desire to shield their dynamic from the rest of the world in an interview with GQ. “You want to keep it sacred and private as long as you can,” she told the outlet. “So that you don’t have to even think about what the world thinks about it.” However, in the same conversation, she also revealed more details about her relationship with Tatum: “He’s just a wonderful human. He makes me laugh and we both really love art and talking about art and the exploration of why we do what we do. We love to watch a film and break it down and talk about it and challenge each other.” A little less than a year after that interview, the couple’s engagement went public as the duo left a Halloween party with the ring on Kravitz’s left hand. It’s unclear when (and even if) we’ll spot the diamond again.