Candy Bling: Check Out Mariah Carey’s $500,000 Diamond Heart from Billionaire Boyfriend James Packer [Photo + Video]

Mariah Carey’s certainly no stranger to lavish gifts, but thanks to her new boyfriend — Australian billionaire James Packer — she’s rocking $500,000 around her neck!

Before her show Wednesday night, James gave Mimi a stunning 18 karat yellow heart-shaped diamond.

During the show, Mariah dedicated her performance of “Hero” to James…telling the audience she has a ‘new heart’.

Happy backstage right before last night’s show… #NTT “‘If you look inside your heart…” ??????

A photo posted by Mariah Carey (@mariahcarey) on Jul 23, 2015 at 8:00am PDT

A new heart, indeed. Check out the dedication below!