But just who gets to keep the over-sized engagement ring reportedly worth US$93,000 (AU$130,000)?
Well, according to TMZ - who broke the story of their split on Monday- Ariana was "quick to fork it over" to her former fiance.
If the 25-year-old indeed gave the custom-designed pear-cut sparkler back to her Saturday Night Live comedian ex, she would be observing the belief that engagement rings are a conditional present that should be returned if you don't actually get married.
But plenty of other celebrities have kept their engagement ring, including Mariah Carey - who reportedly sold the $13 million ring James Packer gave her.
Perhaps more controversial for the young ex-couple will be who gets to keep their pet teacup pig, Piggy Smallz.