Business has been great for billionaire James Packer.

However, rumors circulating that he's dating supermodel Miranda Kerr have reportedly made his personal life a "disaster."

Daily Mail reports that the 46-year-old split from his wife Erica in September and was rumored to be dating Miranda Kerr only three months later.

The former Victoria's Secret model has not commented publicly about the dating rumors.

The two met through their ex's; they were seen vacationing together in the past with their respective families. It has also been reported that Packer, who has three children with his ex-wife, had given the new face of H&M business advice for her beauty line, Kora.

Kerr's mother told The Australian Women's Weekly that she doesn't fully believe the dating rumors circulating about her daughter and James Packer.

She stated, "We take it with a grain of salt. If you were to take everything that's written as truth, you would get upset. We choose to ignore it."

The Australian beauty's mother, Therese, continued, "When the story broke, I said "What the go?" She said, "Mum, don't believe everything you read. So, who knows?"

While James Packer struggles with his personal life, Miranda Kerr ran into her ex-husband Orlando Bloom at a Vanity Fair party following the Oscars on Sunday.

The former couple shared an awkward run-in as Bloom snuck up behind the beautiful model and asked if she was doing well.

According to news.com.au, Bloom kissed his estranged wife on the cheek as she responded, "Yes" to his question.

Bloom moved on as Kerr finished her interview in a stunning metallic dress that flaunted a sexy, plunging neckline.

The actor and brand ambassador for Calvin Klein have often been seen together for their son, Flynn.