December 31, 2016 03:38 PM

Ashley Olsen was spotted sharing an embrace with her new love, financier Richard Sachs, while beachside on a vacation in St. Barts on Friday.

The Olsen twin, 30, sported her signature oversized sunglasses with a black sleeveless dress. Meanwhile, her companion wore a white V-neck shirt and aviator-style shades.

Olsen and Sachs, 58, have been linked since October, when they were spotted sharing a very public kiss during a Brooklyn Nets game.

Olsen was last rumored to be spending time with then-59-year-old artist George Condo. The designer and artist lunched together in New York City in August, and a source told PEOPLE at the time that they “sat in one of the nice corner booths usually more ‘romantic’ for couples because it’s a cozy little spot.” The source added, “They were definitely close but not touchy feely.”

RELATED VIDEO: The Real Reason the Olsen Twins Passed on ‘Fuller House’

As Olsen closes out the year on her tropical getaway, PEOPLE looked back at her incredible year with her identical twin Mary-Kate Olsen. Together, the duo accomplished everything from opening their new Elizabeth and James store in L.A. to a matching (and monochromatic!) appearance with their little sis Elizabeth Olsen at the CFDA fashion awards.

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