Lady Gaga wears $30M diamond to Oscars; last worn by Audrey Hepburn

Lady Gaga, winner of the award for best original song for "Shallow" from "A Star Is Born", poses in the press room at the Oscars on Sunday, Feb. 24, 2019, at the Dolby Theatre in Los Angeles. (Photo by Jordan Strauss/Invision/AP)

Lady Gaga may have channeled her inner Judy Garland on the red carpet of Sunday's Academy Awards, but she resembled the late Audrey Hepburn with a dazzling $30 million diamond once worn by the iconic actress. 

Gaga paired the 128.54-carat Tiffany & Co. diamond – named the "Tiffany diamond" – with an Alexander McQueen gown. She also picked up an Oscar for best original song for "Shallow" for the film "A Star is Born."

The iconic yellow diamond is the same one Hepburn wore in 1961 for publicity posters for "Breakfast at Tiffany’s." Sunday marked the third time the Tiffany diamond was worn and its first time on a red carpet.

"The chance to work with such an amazing piece of design and history tonight is a creative dream come true," Lady Gaga’s stylists Sandra Amador and Tom Eerebout told The Hollywood Reporter in a statement. "There are so many beautiful jewels in the world, but the radiant Tiffany Diamond … is truly exceptional, which is just so fitting for Lady Gaga." 

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The stone’s estimated worth is $30 million and rarely seen outside of the Tiffany & Co. flagship store in New York.

The company made an exception for Lady Gaga, with its chief artistic officer Reed Krakoff calling the singer "the ultimate creator, innovator and rule breaker, and I’m thrilled that she will be wearing the legendary Tiffany Diamond on the awards show red carpet for the first time since it was discovered 141 years ago."