Karlien van Jaarsveld and Derick Hougaard. (Gallo Images) ~ Gallo Images
Derick told Rapport that the ring - which is worth more than R100 000 - can be put to better use, such as investing in their twins' future.
He said that Karlien doesn't have any use for the ring anymore and she has someone "better" who can take care of her. And buy her a new ring.
Karlien recently got engaged to her boyfriend of nine months, former rugby player Joe Breytenbach.
Derick and Karlien got divorced in October 2015.
Derick believes that it is the "logical" thing to do. "Imagine what R100 000 over 20 years could mean for the twins?" He believes that the right thing to do would be to invest the money for the twins, instead of it just laying in a drawer.
He didn't want to divulge further regarding Karlien's comments, but said that she was less keen.
He added that he had no idea where the ring is, or if she even still has it.
Karlien's momager responded to these allegations, saying that she will personally return her daughter's ring if it means Derick will end his rant.
To which Derick responded, "If your child is 30. She must probably fight her own battles."
He also jokingly offered a 5% finders fee for delivering all his things.