Drake buys Tupac's $1-million crown-shaped ring

Canadian rapper Drake has revealed that he is the buyer of a crown-shaped ring that belonged to slain hip-hop legend Tupac Shakur, which sold at auction this week for a record $1 million.

Drake’s announcement comes on Friday after he shared an Instagram story that showed him wearing the bauble, which sold on Tuesday at Sotheby's for a total of $1.016 million, including commission and fees.

That was well above the pre-sale estimate of between $200,000 and $300,000, making it the most valuable hip-hop artefact ever sold, the auction house said.

Drake – the best-selling artist behind hits such as "Hotline Bling" and "Nice For What" – has spent lavishly in the past, including buying a Boeing 767 for personal use and paying $104 million for a Los Angeles home once owned by singer Robbie Williams.

The New York-born Shakur wore the ring during his final public appearance at the MTV Video Music Awards on September 4, 1996.

Shakur’s killing

Widely regarded as one of the greatest rappers of all time with 75 million records sold, Shakur was shot dead by an unidentified assailant in Las Vegas just days later.

He was 25.

In a recent development in his case, police searched a home in Las Vegas on July 18 in connection to Shakur’s killing.

Shakur, whose hits included "California Love," designed the ring over the course of a few months, Sotheby's said.

He did so through his godmother Yaasmyn Fula, who put the ring up for sale.

A gold circlet studded with a central cabochon ruby flanked by two pave-cut diamonds sits atop a diamond-encrusted gold band.

Shakur was influenced by 16th century Italian philosopher Niccolo Machiavelli's political manifesto "The Prince," which he read while in prison.

He modeled the design on the crowns of the medieval kings of Europe, Sotheby's added.

He was honored with a star on the Hollywood Walk of Fame in June.