You've heard of $900 cupcakes and $34,000 puddings. But a birthday cake loaded with diamonds and hand-sculpted fondant just smashed the record for the most expensive dessert ever created.

Price tag: $75 million.

The decadent cake was created by British designer Debbie Wingham, who rose to fame when she crafted the world's most expensive dress for $17.7 million. The extravagant dessert was purchased by an unnamed buyer in the United Arab Emirates, who bought it for his daughter's joint birthday and engagement party.

The cake's price tag easily tops the previous record of $50 million.