Reum proposed to Hilton on a private island days before her 40th birthday with a one-of-a-kind sparkler fit for a modern-day princess

Paris Hilton got a very special new piece of bling this Valentine's Day — and it's definitely a diamond worthy of an heiress.

Hilton's boyfriend Carter Reum proposed to the entrepreneur and DJ after a year of dating on Feb. 13 while the couple celebrated her 40th birthday on a private island. Reum popped the question with a one-of-a-kind diamond engagement ring.

For her romantic proposal, Hilton wore a bridal-esque white, sequin Retrofête gown featuring a plunging neckline and a high slit. She accessorized the look with a festive Loschy crown and her signature fingerless gloves, which were also blinged out for the occasion. The glittering dress accentuated the mega-carat, emerald-cut sparkler on Hilton's left hand, which was designed by jeweler Jean Dousset — the great-great-grandson of famed French jeweler Louis Cartier.

Paris Hilton engagement ring design
Credit: Courtesy Paris Hilton (2)

"I am excited about this next chapter and having such a supportive partner," Paris, who announced the news on Feb. 17, told Vogue of her exciting engagement. "Our relationship is one of equals. We make each other better people. He was absolutely worth the wait!"

Hilton shared a video on her YouTube channel giving fans a sneak peek at the design process behind the gorgeous custom ring via a hand-painted sketch highlighting the intricate details.

Also on hand to celebrate with the happy couple, their families, including Hilton's sister, Nicky Hilton Rothschild, and Reum's brother, Courtney Reum.

A longtime friend of the Hilton family, Reum, 39, is an author and entrepreneur known for co-founding the liquor brand VEEV Spirits alongside his brother, Courtney. He also launched M13, a VC firm based in L.A. and New York City that's invested in a number of successful startups including Daily Harvest, Lyft and Rothys.

Hilton also shared her excitement on Instagram with a heartfelt tribute post to her fiancé.

"When you find your soulmate, you don't just know it. You feel it. 💫 My love & I have been together since our first date, and for my birthday, he arranged a special trip to tropical paradise. 🏝️ As we walked to dinner along the beach, Carter led us to a cabana adorned with flowers and dropped to one knee. 💍 I said yes, yes to forever ❤️ There's no one I'd rather spend forever with. ✨ To see more photos of my birthday dream come true, visit Here's to Love - the Forever Kind 💋"

Hilton made her relationship with Reum Instagram official in April on their one-year anniversary.

Opening up about her relationship with Reum, Hilton exclusively told PEOPLE in September that the pair had "gotten so close" over the past year.

"This is the first time I've actually been forced not to travel and stay home," the former reality star, who traveled up to 250 days a year for work prior to the pandemic, explained. "The silver lining is that I get to be with my pets and my boyfriend. We have gotten so close. The amount of time we've had together is what would normally take five years!"

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Although Hilton and Reum knew each other for 15 years, they began dating last November, after spending Thanksgiving together. "We just had this incredible chemistry. We had our first date and haven't spent a night apart since. It's pretty amazing," she added.

Hilton has also been very candid about the couple's eagerness to start a family soon.

During a January episode of the The Trend Reporter with Mara podcast, Hilton revealed that she's started in vitro fertilization (IVF) with boyfriend Reum, praising him for being "so supportive" throughout the process.

According to Hilton, she started looking into IVF because it was "the only way" she could ensure that she can have "twins that are a boy and a girl."

"We have been doing the IVF, so I can pick twins if I like," Hilton shared, explaining longtime friend Kim Kardashian — who welcomed two children via surrogate — was the one "who told me about that. I didn't even know anything about it."