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Mariah Carey and James Packer. Photo courtesy of the Los Angeles Times.
Summary: Mariah Carey sold the 35-carat engagement ring that James Packer gave her in 2016.
Mariah Carey is millions of dollars richer. According to Page Six, the pop diva quietly sold her engagement ring given to her by billionaire James Packer. The two called off their engagement in 2017.
Two years ago, Packer gave Carey the 35-carat diamond engagement, hoping that the two would have a happily-ever-after. Unfortunately, the pair could not make it work, and even though they had never married, they arranged a financial settlement for Carey in 2017, which included the ring.
“Mariah has been very vocal recently about her choice to move forward in her life surrounded by positivity,” Carey’s publicist said to Page Six. “That requires leaving emotional and material baggage behind, including an old engagement ring from an ex-boyfriend.”
Packer, 50, is an Australian media baron worth $4 billion. He has been married twice before and has three children.
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The engagement ring was valued at $10 million, but Carey had her business managers sell it for $2.1 million to a Los Angeles jeweler. Sources said that even though it was publicly valued at $10 million, the ring was worth much less.
“A confidentiality agreement was signed, but the jeweler is currently selling it, and there’s only one such ring,” a source told Page Six. “Mariah Carey’s public relations people are desperately trying to keep the story from the press, and have threatened the jeweler with litigation if he discloses her name.”
The source told Page Six that Carey did not sell the ring out of financial problems. According to Heavy, she has a net worth of $535 million, and she earns money from royalties, tours, appearances, and more. Her career began in the 1990s, and she has numerous still-popular hits such as “All I Want for Christmas.”
Carey, 47, is facing a multi-million dollar lawsuit from her ex-manager, Stella Stolper (Bulochnikov). Stolper said that Carey did not take her bipolar medication regularly and owed the manager millions in unpaid fees. Carey has denied Stolper’s allegations.
“Stella Bulochnikov was terminated from employment as Mariah’s manager due to failure to perform her job effectively and ill-serving her client,” Carey’s representative said. “Stella was not under contract for employment. She has been spreading false rumors to any media outlet that will publish them. We won’t respond to lies and threats. Again, if this frivolous and baseless claim is filed, we will defend against it vigorously and successfully. It is also interesting to note that this is the first lawyer who will move forward on Stella’s behalf, having previously gone through three others who wouldn’t.”
Carey’s decades-long career has been lucrative but has had highs and lows. Recently, Carey came forward and said she suffered from bipolar disorder, which explains some of her erratic behavior over the years. Carey said that she had been diagnosed in 2001.
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