Getty Images; INFphoto
June 20, 2015 06:10 PM

Mariah Carey spent her Friday like most people would probably like to: Walking through the streets of an Italian island with a billionaire.

The pop star was seen holding hands with Australian billionaire James Packer, a media mogul, in Capri, a tony island off the southern coast of Italy.

Packer, 47, was most recently married to Erica Baxter, with whom he has three young children. They split in 2013.

Meanwhile Carey divorced from husband Nick Cannon late last year– though their twins, Moroccan and Monroe, both 3, keep them close.

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But this isn’t the first time in recent months Carey has ignited rumors of a new romance, simply by walking around outside, arm-in-arm, with a man.

Last time the focus swirled around Carey and and director Brett Ratner, a longtime friend. His rep told PEOPLE then such speculation was “ridiculous.”

TMZ was the first to report the news.

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