NEW PIC: Angelina Jolie Smiles, Flashes Huge Engagement Ring in L.A.

Angelina Jolie leaving the Roosevelt Hotel in Hollywood, CA on April 16, 2012. FameFlynet

Does that thing come with its own security team?

Angelina Jolie was all smiles when she stepped out in Los Angeles Tuesday while flashing her latest accessory — her giant engagement ring from Brad Pitt!

The newly engaged star proudly showed off the giant platinum sparkler, which jewelry expert Michael O'Connor estimates is worth $500,000 and has a total weight of 16 carats with a center stone of 7 carats.

Carrying her new spring bag — a beige YSL Chic Cabas tote that retails for $2,400 — the 36-year-old mom of six chose a tight grey dress that hugged her skinny, gaunt frame.

In addition to her engagement to long-time love, Jolie has plenty to beam about lately. On Tuesday, it was announced that the philanthropic star was promoted to the diplomat-level position after serving for over ten years as goodwill ambassador to the UNHCR, according to E! News.

"In her new role, she is expected to focus on large-scale crises resulting in the mass displacement of people," UNHCR spokesman Adrian Edwards explained at a press conference in Geneva. "I don't think you need a rocket scientist to see the benefits that she is bringing in terms of the attention that she is getting for the plight of the world's displaced."

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