Wedding bells will soon be ringing for Mariah Carey and her fiance, James Packer after E! Online learns exclusively that the Australian billionaire just popped the question with a 35-carat diamond ring.

The two hit it off just under a year ago, albeit knowing each other since 2014. But who is James Packer?

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The 48-year-old Australian businessman and philanthropist was the son of the late media mogul, Kerry Packer. He's made a name for himself in Australia after developing a worldwide gambling empire. At a net worth of $4.5-B (Forbes), Packer is currently one of the richest men in Australia. Packer has a penchant for yachts and owns a lavish mansion in Bellevue Hill estate that is estimated to be the most expensive non-water front property down under.

Carey's future hubby has been married twice and has two children. He also made headlines after dating models Jodie Meares and Tania Bryer and developing a friendship with Scientologist and actor Tom Cruise.

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No set date has been announced for the Carey-Packer union. For now, we can ogle over the fact that Carey's finally about to have her "One Sweet Day."

Tags: James Packer Mariah Carey