Derick Hougaard allegedly "begged" his ex-wife, Karlien van Jaarsveld, to give back her ring, or sell it and invest the money for the two-year-old twins. 

According to Rapport, he said that Karlien doesn't have any use for the ring anymore and she has someone "better" who can take care of her. He believes the "logical" thing to do is sell the ring and invest the money in their twin boys' future. (Read the full story here)

The whole debacle played out on social media over the weekend, with momager, Ronel Brink, saying she will personally return the ring to Derick if he will drop this whole thing. 
The couple divorced October last year. 
Here is a picture of the R100 000 diamond ring, designed by Jenna Clifford.  

Source: -TheJuice