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Mariah Carey and billionaire James Packer are engaged

What kind of ring does a billionaire get for his fiancee?

Ask Mariah Carey, who just got engaged to her Australian businessman boyfriend, James Packer, reports ET. He got her a 35-carat diamond ring -- that's bigger than both Kim Kardashian West's and Beyonce's rings combined. Vogue has a photo of the ring, if you want to see what a 35-carat rock looks like.

It's certainly not the first expensive gift Packer has given the diva; she wore a blinged-out Van Cleef & Arpels necklace to an interview with Steve Harvey back in November. The 45-year-old singer said that she and Packer, 48, hit it off when they met in Aspen at the "Hercules" premiere. Packer's net worth is valued at $3.5 billion.

Carey and Packer made their first red carpet appearance at "The Intern" premiere in September.

"James was leading Mariah through the theatre room and had his hand on her back. Mariah looked very proud to be there with James," an eyewitness told ET at the time. "He seemed a little more under the radar than she is but looked at her very adoringly and happy."

It will be the third marriage for both Packer and Carey. Packer has three children from his marriage to Australian model and singer Erica Baxter, and Carey has 4-year-old twins with ex-husband Nick Cannon.

It's safe to say Carey won't be on Match.com anymore.

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    Andrea is an entertainment producer at CBSNews.com