5 Facts You Should Know About Mariah Carey's Billionaire Fiance, James Packer

While it's common knowledge that singer Mariah Carey is engaged to billionaire business mogul James Packer, what isn't common knowledge is exactly why and how Packer became a billionaire. It seems that since the diva's divorce with Nick Cannon, she's been going full speed ahead in terms of music and dating, but right now getting married just might be her main priority. MStars News put together five facts that you should know about Carey's man.

1. People says,"He is very, very, very, very wealthy." Packer is ranked no. 4 on Forbes list and is worth $3.7 billion, down from what he used to be worth. "Falling casino revenue in Macau hurt James Packer's half-owned Crown Resorts and cut his net worth by nearly $2 billion."

2. James inherited Consolidated Press Holdings Unlimited in 2005, once his father, Kerry Packer, died. He sold more than half of the company a year later in 2006, says ETonline.

3. The 47-year-old Aussie has made a killing in the gaming business. He has "Casinos in Melbourne, Perth and Manila, plus 2 in Macau through the Melco Crown Entertainment joint venture. Plans include Sydney, Brisbane and Las Vegas, plus a third casino in Macau."

4. Let's just say Carey's fiance has done well diversifying his assets. Besides media and gaming, he's also involved in the film industry since he partnered with Hollywood actor and director Brett Ratner and owns the Los Angeles based film company, RatPac Entertainment.

5. One of the little known facts about the multi-billionaire is that he was previously married to singer, Erica Baxter Packer, though they amicably divorced in 2013. Together, they're raising have four children. Wife numero uno was Jodhi Meares and they divorced in 2002.

Mariah Carey is one of the most famous women in the world and soon she may be one of the richest, surpassing Beyonce by billions, if she does in fact marry the business man. We'll certainly keep you updated as the saga continues!