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Mariah Carey and Australian billionaire James Packer are engaged!
The couple went public with their relationship last June after they were seen on holiday together in Italy.
Mr Packer is Australia's 4th richest person, according to Forbes, with a fortune estimated to exceed A $4.7 billion.
Mariah Carey announced her break-up from "America's Got Talent" host Nick Cannon in 2014.
According to reports Mariah's new diamond ring comes in at around 35 carats.
No wedding date has been set just yet.
Nick Cannon is apparently ok with Mariah Carey's plans to remarry.
The comedian took to Instagram on Saturday to congratulate his ex-wife and her new fiance.
Cannon shared a fan-created meme that shows him on a hospital bed with Kevin Hart by his side. The photo, which was taken from their BET faux-reality show, Real Husbands of Hollywood, reads "It's just a ring Nick..."
"Ha! This made me laugh out loud for real!!! HILARIOUS! #AllLove," Cannon captioned it. "Congrats to @MariahCarey and James! May God Bless Your Future Union...#GreatPeople #GreatCouple."