Complex sentence: The Jacob Diamond is a large diamond, ranked seventh in the world, known earlier as the Imperial Diamond, believed to be the same stone as the Victoria Diamond, formerly owned by the The Nizam of Hyderabad and currently owned by the Government of India.
Split into simpler sentences: The Jacob Diamond is a large diamond, ranked seventh in the world, known earlier as the Imperial Diamond. It is believed to be the Victoria Diamond, owned by the The Nizam of Hyderabad and currently owned by the Government of India.