Mariah Carey Sells 35-Carat Engagement Ring From Billionaire Ex James Packer

Mariah Carey finally sold the famous 35-carat diamond engagement ring she received from her ex-fiance, Australian billionaire and media mogul James Packer.

The ring was estimated to be worth $10 million, and was at the center of the financial settlement she struck with Packer when they split in 2016. However, a source told Page Six she had a manager sell the ring to a Los Angeles jeweler for $2.1 million.

"Mariah has been very vocal recently about her choice to move forward in her life surrounded by positivity," her publicist told Page Six. "That requires leaving emotional and material baggage behind, including an old engagement ring from an ex-boyfriend."

Another source told Page Six the jeweler signed a confidentiality agreement and is now selling the one-of-a-kind piece of jewellery.

"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 explained.

A Carey insider also told Page Six that the ring was worth far less than $10 million and denied possible speculation that the "All I Want For Christmas Is You" singer is short on cash.

"She owns multiple homes, her entire catalog of music, and she's had numerous successful tours and residencies," the insider said.

The 50-year-old Packer is one of the richest Australians in the world. According to Forbes, he has an estimated net worth of $4 billion.

Carey and Packer became engaged in January 2016, but called off the wedding in October 2016. Last year, the two reached a financial settlement, with Carey reportedly making off with $5 million to $10 million, between cash and the ring. She reportedly wanted $50 million, citing her move to Los Angeles to be with him.

In October 2017, Packer told The Australian the couple never belonged together.

"I was at a low point in my personal life," he said of their relationship. "She was kind, exciting and fun. Mariah is a woman of substance. But it was a mistake for her and a mistake for me."

The 48-year-old Carey, who is now dating 35-year-old Bryan Tanaka, is also facing a civil rights lawsuit from former manager Stella Bulochnikov, who claims Carey owes her millions in unpaid commissions. Bulochnikov's attorney called Carey a "train wreck" and said the lawsuit could be a "blockbuster expose" of Carey's life. Carey's rep called the claims "frivolous and baseless."

Just days before Bulochnikov filed her lawsuit, Carey told PEOPLE Magazine she was diagnosed with bipolar disorder and lived in "denial and isolation and in constant fear someone would expose me."