Mariah Carey Got A Hefty Payday From One Of Her Engagement Rings
When Mariah Carey got engaged to James Packer the singer made headlines not only for her pending nuptials, but for the size of her engagement ring. "I'm feeling fantastic, better than ever," the "Fantasy" artist told E! in January 2016 after her boyfriend popped the question. "It's so heavy I can't lift my arm up!" Unfortunately, the pair never made it to the altar together, as they called off the engagement in October 2016. Money may not have been an issue for the chart-topping singer and the billionaire, but it was still a point of contention. "Some of Mariah's eccentric ways, especially her spending habits, caused drama," a source told People at the time.
Even though they never tied the knot, the former couple had unresolved financial matters that needed to be settled. Carey kept the ring, which was reportedly worth $10 million, plus she wanted more money from Packer to the tune of $50 million. "[S]he wants an 'inconvenience fee,'" a source told Entertainment Tonight in November 2016. Apparently Carey was upset about being uprooted. "He moved her across the country and relocated her and her kids. He made promises to her that weren't fulfilled," the insider added.
A year later, Carey still sported the rock from her ex-fiancée. "She still has the ring and wears it now on her middle finger," a source told Entertainment Tonight in November 2017. Eventually, Carey sold the ring for a whopping sum.
Mariah Carey sold the ring privately
Just over a year after Mariah Carey took James Packer to court for $50 million, the former couple were able to reach a settlement in November 2017. The exact amount was unknown, but according to The Blast, Carey was awarded between $5 million to $10 million, plus the engagement ring.
The "Dreamlover" singer was able to offload the ring in May 2018. Reportedly, Carey had a business manager sell the ring to a jeweler for $2.1 million, per Page Six. A publicist for the artist said Carey was seeking a fresh start. "That requires leaving emotional and material baggage behind, including an old engagement ring from an ex-boyfriend," they told Page Six. While the jeweler who bought the ring went on to sell it, they were forbidden from disclosing that Carey used to own it, or telling the public how much they sold it for. The eventual price tag was undisclosed, but the 35-carat ring was one-of-a-kind. It was designed by Wilfredo Rosado, a jewelry designer and friend of Carey's.
In 2020, the singer released her memoir "The Meaning of Mariah Carey," and Packer was noticeably absent from the book. "If it was a relationship that mattered, it's in the book. If not, it didn't occur," Carey told The Guardian in 2020. Of course, Carey also received engagement rings from other relationships.
Nick Cannon's engagement ring was worth millions
Prior to her engagement to James Packer, Mariah Carey had been married twice. Her first marriage was to Sony Music record executive Tommy Mottola from 1993 to 1998. That engagement ring was modest in comparison to the others that the "Fantasy" artist was given, and was valued around $500,000, per The Richest. After parting ways with Mottola, Carey started changing her image. "Mariah wants to have an edgier sound now. That's why she's hanging out with Q-Tip and Puff [Daddy]," a source told Entertainment Weekly in 1997.
A decade after her first marriage, Carey got engaged to Nick Cannon in 2008. The "Wild N' Out" host proposed with a 17-carat ring with a giant pink center stone surrounded by 58 diamonds. That ring was worth a reported $2.5 million. "I wanted to do something extremely special, something that Mariah would really appreciate," Cannon told People in 2008, while discussing his input on designing the ring. "It's so clear, you can see my finger through it," Carey said about the piece.
When Cannon proposed to the pop star, he did it cheekily by placing the $2.5 million ring in a Ring Pop wrapper, as that is apparently one of Carey's favorite candies. The story of the proposal was well-known and led to a tie-in with a brand. Ring Pop-inspired fragrances were developed for Carey's fragrance line with Elizabeth Arden in 2010.