See a Close-Up of Bethenny Frankel's Massive Diamond Engagement Ring from Paul Bernon

Bethenny Frankel has a lot to celebrate.

PEOPLE confirmed on Tuesday that the former Real Housewives of New York City star, 50, got engaged to boyfriend Paul Bernon after finalizing her contentious divorce from Jason Hoppy — and she has some massive bling to show for it.

Over the weekend, Frankel was photographed wearing an emerald-cut diamond ring on her left hand during a beach day in Florida with 10-year-old daughter Brynn and Bernon, a film producer and real estate developer. The mogul teamed her huge new engagement ring with a floppy sun hat and a one-piece swimsuit adorned with a tiger design and side cut-outs.

Diamond expert Mike Fried, CEO of The Diamond Pro, tells PEOPLE that Frankel's engagement ring looks to be a 15-carat plus emerald cut center stone flanked by trapezoid side stones.

"The value should definitely top $1 million," Fried says. "With its stunning size and exquisite style, Bethenny's ring is a nod to her relationship with Paul Bernon and their future together."

The Skinnygirl entrepreneur started dating Bernon, a film producer and real estate developer, in 2018.

Speaking to PEOPLE in 2019, Frankel raved about the relationship, saying things with Bernon, 43, were "wonderful."

"He's a good person who I love," she said. "I don't know if it's a yin to my yang, but he's really relaxed, he's mellow and he's very, very funny."

She also discussed Bernon's relationship with Bryn during a 2019 appearance on Watch What Happens Live with Andy Cohen. "Bryn knows him and loves him," she said. "They're very, very similar people."

Hoppy and Frankel, both 50, wed in 2010 and separated in December 2012. Frankel filed for divorce a month later. Though they reached a financial settlement in July 2016, the exes remained at odds over custody of their 10-year-old daughter Bryn for years.

According to the New York Post's Page Six, a judge signed off on their divorce on Jan. 20.