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Raha Lewis
December 05, 2013 02:00 PM

One of Australia’s most eligible bachelors may now be off the market … courtesy of Miranda Kerr.

The former Victoria’s Secret model – who announced her separation from Orlando Bloom after three years of marriage this fall – is rumored to be dating Aussie billionaire James Packer.

Packer, 46, is a casino mogul and an insider tells PEOPLE he and Kerr, 30, “are definitely seeing each other.” (Though a Kerr source says the two are strictly friends.)

In September, Packer announced that he had separated from his wife, Erica Baxter. The two were married in 2007 in a lavish ceremony on the French Riviera. They have three children: Indigo, 5, Jackson Lloyd, 3, and 15-month-old Emmanuelle Sheelah.

A source close to the mogul confirms that he met Kerr two years ago when she asked Packer for business advice. They became friends and the two vacationed with their respective families in Bora Bora together last year. Now their friendship may have been taken to the next level. Here are five things to know about Miranda Kerr’s rumored new man …

1. He had a hand in one of this year’s biggest hit movies
Packer is a producing partner in this year’s blockbuster Gravity. He recently embarked on a business venture with Hollywood movie financing company RatPac-Dune Entertainment agreeing to fund up to 75 films with Warner Bros. The venture’s first movie was the George Clooney and Sandra Bullock hit.

2. He’s friends with Tom Cruise
Packer enjoys a close friendship with Tom Cruise. In an interview on Australia’s Seven network, Packer said that he was at an all-time low in 2002 after a failed business venture when Cruise reached out to the mogul. “I had met him only once or twice and he was in Australia and we got together,” Packer said. “I think that he could tell that I was in pain and he invited me to his house to go skiing with him.” In 2006, Packer attended Cruise and Katie Holmes‘s wedding, and Cruise was there in 2007 when Packer tied the knot with Erica. “I just think he’s a very special person,” Packer has said of his famous friend.

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3. He’s a bona fide billionaire
Between his inheritance and his gaming company, Crown Ltd, which owns casinos in Australia and a joint venture in Macau, Forbes has listed Packer’s net worth at $6 billion and has declared him as the 3rd richest man in Australia.

4. He likes to yacht in his spare time
Packer has allegedly spent $100 million on water toys in the last six years. His Arctic P yacht was made famous when Cruise and Holmes spent two weeks of their mega-honeymoon chilling out on it off the coast of a private island. These aren’t your run-of-the-mill water carriers either: In December 2012, Packer purchased a 52-meter super yacht called Seahorse that accommodates 12 guests and up to 18 crew members.

5. He has a list of beautiful exes
Packer definitely has a type: the beautiful model type. In 1990s, he was linked to Jennifer Flavin – who went on to marry Sylvester Stallone – and U.S. model-turned-actress Joan Severance. He was previously engaged to Aussie model-actress Kate Fisher and was married for three years to Aussie swimsuit model Jodhi Meares.

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