• Mariah Carey and James Packer attend 'The Intern' New York Premiere at Ziegfeld Theater on September 21, 2015 in New York City.

Mariah Carey and James Packer attend 'The Intern' New York Premiere at Ziegfeld Theater on September 21, 2015 in New York City. (Photo : Getty Images/Dimitrios Kambouris)

Mariah Carey, 46, and James Packer, 48, who got engaged in January, recently called off their wedding. The breakup was allegedly related to money issues.

Before the split, Carey had already booked a venue for the wedding and bought a wedding dress. She also moved her kids across the country to spend time with her ex-fiancé in Los Angeles. Carey also cancelled her concert tours in South America after their breakup in September, which happened during a holiday in a yacht in Greece.

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While Carey is already rumored to be linked to another man after the breakup, she is demanding for a $50 million settlement. The singer, who has a net worth of $520 million, insists on a settlement despite never being married to Packer.

Aside from the wedding expenses, Carey also wants Packer to pay for the lease of their home in Calabasas as well as shoulder the expenses on her next move. Packer gave Carey a $10 million diamond ring when he proposed, but she does not count that in the $50 million settlement. Carey has no intention of giving back the ring either.

Australian billionaire Packer ordered his lawyers to complete a pre-nuptial agreement before the March wedding. He even got angry with his lawyers who were taking too much time in processing the documents. However, neither Carey nor Packer ended up signing the documents before the engagement was called off, the Daily Mail reported.

A possible reason for the split is Carey's refusal to attend Packer's sister's 50th birthday in Sydney. Another reported factor may be Packer's refusal to appear in Carey's reality show, "Mariah's World".

"Mariah and James had a fight in Greece, and have not seen each other since. The fight was not because of any cheating allegations or excessive spending by Mariah," Carey's spokesperson told ET. "James is one of the most successful businessmen in the world. They are trying to work it out", the spokesperson added. The spokesperson continued to say that the couple is currently discussing their situation and plan to release an official statement. 

Here is the latest on the Carey and Packer's breakup: