The singer and her fiancé went public with their relationship in June 2015 after they were seen on holiday together in Italy.
According to Forbes magazine, 47-year-old James Packer is Australia’s fourth-richest person with a fortune estimated to exceed A$4.7 billion ($3.1 billion).
Mariah Carey, 45, is one of the biggest selling artists of all time.
She released her first album in 1990.
James Packer, who inherited an Australian media empire from his father Kerry Packer, and now operates casinos, split from his second wife model and singer Erica Baxter in 2013.
Mariah Carey announced her break-up from Nick Cannon in 2014.
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