Billionaire businessman James Packer proposed to singer Mariah Carey with a 35-carat diamond and platinum ring that "could not be measured up to", the ring's designer says.
Carey, 45, and Packer, 48, have been dating since the summer of 2015 after meeting at a movie premiere in Aspen, Colorado in 2014.
The Australian proposed to the singer on January 21 with a 35-carat ring designed by Wilfredo Rosado.
Rosado, who is an old friend of Carey's, told Vogue.com that Packer was involved in the design process.
"He wanted to create something very rare and very beautiful around this diamond he chose, and I followed his lead.
"I took the standards super high, and I wanted to create a ring that could not be measured up to.
Rosado said Carey had a strong point of view about what she liked.
"We have the same taste, and when it came down to it, I really wanted to create something for her that was about new beginnings," he said.
"I wanted to give her something super sophisticated and something that took away all of the embellishments that a lot of people use when they design engagement rings these days. But it is epic. It's an epic ring for an epic time in her life."
It's not the first time Packer has spent big on a rock.
According to one newspaper, first wife Jodhi Meares got a $300,000 ring, while the ring he gave Erica Baxter, his second wife, was rumoured to cost "$200,000 plus".
Packer's first fiance, Kate Fischer (whom he never married), reportedly received a $250,000 diamond ring.
PA, with Fairfax Media