Indian billionaire Sudha Reddy
IG/ sudhareddy.official

Hyderabad-based billionaire Sudha Reddy wore jewellery from her personal collection valued at more than $15 million (£11.3 million) to the 2026 Met Gala on Monday, according to People.

The centrepiece was a 550-carat deep violet-blue tanzanite pendant known as the 'Queen of Merelani,' set in a Victorian-finished chain of triangular and pear-shaped rose-cut diamonds arranged in floral clusters. The stone was sourced from Tanzania's Merelani Hills - the only known commercial deposit of the gemstone on earth.

Reddy, 47, paired the necklace with a 30-carat rose-cut polki diamond ring and a 23-carat yellow diamond ring, as detailed by WWD. Celebrity stylist Mariel Haenn, who coordinated the look, confirmed the jewellery came entirely from Reddy's private holdings.

Tanzanite is widely described in the gem trade as roughly 1,000 times rarer than diamond. The mineral is found in a single mining zone spanning a few square kilometres near Mount Kilimanjaro, first discovered in 1967. Geologists estimate current reserves could be exhausted within 20 to 25 years, a timeline that has driven collector demand and pushed prices for large, high-grade specimens sharply upward. Stones above 100 carats are uncommon in private collections. At 550 carats, Reddy's tanzanite is among the largest ever worn at a public event.

Manish Malhotra Gown Required 3,459 Hours Of Artisan Labour

Reddy attended the annual Costume Institute fundraiser at the Metropolitan Museum of Art in New York City in a custom gown by Indian designer Manish Malhotra titled 'The Tree of Life.' More than 90 artisans spent 3,459 hours constructing the ensemble, ANI confirmed.

The design drew from Kalamkari, a South Indian textile tradition with roots stretching back 3,000 years. It followed the Machilipatnam style, known for hand-painted natural dyes and intricate depictions of mythology and nature. A deep royal blue velvet corset was covered in antique gold zari embroidery, with the Tree of Life motif rendered in zardozi across velvet, silk and tulle.

Peacock motifs extended into a seven-metre trail. A sheer tulle cape carried hand-embroidered flora and fauna linked to Telangana, Reddy's home region, including the Palapitta bird, the Jammi Chettu tree, the Tangedu flower and the Kalpavriksha.

'Indian craftsmanship isn't a legacy confined to history but a living, breathing art form,' Reddy said in a statement. 'It was vital to demonstrate that these ancient techniques possess the structural integrity and aesthetic power to lead the global fashion dialogue.'

Malhotra said the creation was built to carry 'memory and the soul of the craft,' adding that fashion, for him, has always been about the emotion behind the image.

MEIL Director's Third Gala at $100,000-a-Ticket Event

Reddy is a director of Megha Engineering and Infrastructures Limited, one of India's largest private infrastructure firms, headquartered in Hyderabad and founded in 1989 by her husband, P.V. Krishna Reddy, whose net worth exceeds $2 billion (£1.51 billion). MEIL operates across irrigation, power, water supply and defence sectors. Reddy also chairs the Sudha Reddy Foundation, which partners with UNICEF on education and child welfare programmes across India.

In 2025, she was named the first Global Ambassador for 'Beauty With a Purpose,' a Miss World Organisation initiative.

Monday marked her third Met Gala appearance after her debut in 2021 and a return in 2024, both times in Indian couture. Her 2026 look carried the highest reported jewellery value of the three.

Individual tickets to this year's gala cost $100,000 (£75,500) each - up from $75,000 (£56,600) in 2025 - with tables starting at $350,000 (£264,500). Last year's event raised $31 million (£23.4 million) for the Costume Institute. Beyoncé, who returned to the gala for the first time in a decade, co-chaired the evening alongside Nicole Kidman, Venus Williams and Anna Wintour. Jeff Bezos and Lauren Sánchez Bezos served as honorary chairs for the 'Costume Art' theme.

The accompanying Costume Institute exhibition, curated by Andrew Bolton, opens at The Met Fifth Avenue on 10 May and runs through 10 January 2027.

Writer's pick