Mariah Carey and his billionaire beau James Packer is reportedly engaged after they dated for nearly a year since June 2015. Reports reveal that the two would have a prenup especially that the net worth of Packer is very high, Hollywood Take reported.

People cannot stop talking about the engagement ring that Packer put on Carey's finger. The engagement ring is a 35-carat diamond ring that is worth $7.5 million which is no surprise since the 48-year-old Australian is very wealthy, Heavy reported.

But the two are still married with their previous spouses. According to reports, even if Packer signed a prenup with former wife Erica Baxter but he still paid her $100 million after the split. Packer also gave around $10-$15 million to his first wife, Jodhi Meares since that time, he didn't inherit the estates of his father yet.

In 2005, Packer inherited $5 billion from his father and he even created his own casino empire. Presently, he is worth $3.5 billion which makes him the fourth-richest person in Australia.

As for Mariah Carey, she also signed a prenup with Nick Cannon which included a confidentiality clause. When Cannon and Carey got married, Cannon's worth was just around $500,000 but his earnings already increased which means that he could challenge the prenup to reflect his new wealth.

“He is working like 12 gigs now and is worth close to $70 million,” Celebitchy said in 2014. “He’s the breadwinner [while Mariah] has been overspending and draining her fortune.”

Carey was worth $150 million when she married Cannon but it boosted to around $520 million which is expected to increase since she booked residency in Los Vegas, TMZ reported.

As of now, Carey and Cannon will finalize their financial statement prior to her upcoming wedding with Parker. To congratulate the engagement of his former wife, Cannon posted a photo of himself on a hospital bed with the words, "It's just a ring Nick." It goes with the caption, "Ha! This made me laugh out loud for real!!! HILARIOUS! #AllLove Congrats to @MariahCarey and James! May God Bless Your Future Union...#GreatPeople #GreatCouple."