Billionaire baby daddy! Merivale boss Justin Hemmes, 52, is expecting his first child with girlfriend Madeline Holtznagel, 27 – after having two children with his ex-partner

Justin Hemmes is set to become a father again as it has been revealed he is expecting a child with his girlfriend Madeline Holtznagel.

The Merivale billionaire, 52, and his girlfriend, 27, are in the early stages of pregnancy and have already informed their family and friends of their jovial baby news.

Justin already shares two daughters Alexa, six, and Saachi, five, with his ex-model Kate Fowler – sister of Georgia Fowler – while it will be Madeline’s first child.

Sources close to the couple confirmed the exciting news with Daily Mail Australia, and they are said to be ‘over the moon’ about their growing family.

Daily Mail Australia has contacted Justin and Madeline’s reps for comment.

Madeline is the younger sister of Australian model Simone Holtznagel, who welcomed her first child, a daughter named Gia, with her now ex-boyfriend Jono Castano in March.

Justin Hemmes is set to become a father again as he is expecting a child with his girlfriend Madeline Holtznagel (both pictured), it has been revealed

Madeline was last seen in public on November 10 when she strolled through Sydney Airport with Justin, just 12 days before their jovial baby news was made public

Justin and Madeline were last seen together earlier this month when they returned to Sydney after enjoying a weekend away with Justin’s two daughters.

Madeline wore an oversized T-shirt as she strolled through Sydney Airport’s private jet terminal with a big smile on her face, just 12 days before their baby news went public.

And in his first sighting since the family news, hotelier Justin appeared to be in good spirits when he was spotted on a bike ride in Sydney on Friday morning.

The businessman smiled as he rode his bike through the suburbs, cutting a smart figure in a white shirt and cream linen trousers.

He stayed comfortable in a pair of gray sneakers and put safety first as he wore a black helmet during his relaxing bike ride in the sun.

Justin and Madeline quietly started seeing each other in 2019, a year after his debut on the Financial Review Rich List with an estimated net worth of $951 million – which has since risen to $1.39 billion.

Although they generally keep their romance under wraps, the couple is often seen disembarking from his seaplane after their luxury family vacation with his two daughters.

In August, Madeline also made a rare public post about Justin when she shared a photo gallery on Instagram to celebrate his 52nd birthday.

Sources close to the couple confirmed the exciting news with Daily Mail Australia, and they are said to be ‘over the moon’ about their growing family

In his first sighting since the news broke, hotelier Justin appeared to be in good spirits when he was spotted on a bike ride in Sydney on Friday morning.

The businessman smiled as he cycled through the suburbs, cutting a smart figure in a white shirt and cream linen trousers

He stayed comfortable in a pair of gray sneakers and put safety first as he wore a black helmet during his relaxing bike ride in the sun.

She shared a series of romantic snaps of the two of them and gushed over her partner with a sweet caption.

In one adorable photo, Madeline flashed a big smile as she sat on Justin’s lap as he looked at her lovingly.

Another romantic image showed the couple cuddling up as they relaxed on a yacht.

Madeline wasn’t afraid to show the couple’s playful side by sharing a third photo that showed the pair hammering away for the camera in tennis attire.

“Happy birthday my love,” she wrote in a caption along with rose emoji.

Earlier this year, Madeleine celebrated her 27th birthday with a lavish party at Justin’s sprawling Vaucluse estate.

After the festivities, Madeline revealed on Instagram that her loving partner also bought her two llamas as a token of his love.

The couple has gone from strength to strength since going public in 2019 and even sparked engagement rumors last June.

Justin and Madeline quietly started seeing each other in 2019, a year after his debut on the Financial Review Rich List, and have gone from strength to strength since

The couple sparked engagement rumors last June when eagle-eyed fans noticed Madeline wearing a ring on her wedding finger during a trip to Japan (pictured)

Eagle-eyed fans noticed Madeline was wearing a ring on her wedding finger as they wondered if Justin had popped the question.

One photo showed her wearing the jewelry as she cuddled up to Justin as they enjoyed a bowl of Udon noodles together at a restaurant in Japan.

But the bling appeared to be a turquoise dress ring, and another photo showed her wearing a different ring on the same finger as she posed for a selfie.

Justin was previously in a relationship with Kate Fowler and the pair remain on good terms, often holidaying together with their daughters Alexa and Saachi.

Last month, Justin and Madeline were joined by Kate and her new boyfriend David Oettlé as they took Alexa and Saachi to Queenstown, New Zelanad.

Justin and Kate dated for three years before going their separate ways in early 2018, with Justin making a statement about their split at the time.

“Kate and I have the utmost love and respect for each other,” he said in a statement to the Sydney Morning Herald.

‘In early 2018, Kate and I decided that our friendship and respect for family life would become the focus of our relationship.

Madeline is the younger sister of Australian model Simone Holtznagel (pictured), who welcomed her first child, a daughter named Gia, with her now ex-boyfriend Jono Castano in March

Justin previously dated Kate Fowler (pictured in January) and the pair remain on good terms, often holidaying together with their two daughters

‘We love our children dearly and for the time being we live happily together in our parental home.’

“Kate is a wonderful, wonderful, wonderful woman. I’m not sure what the future holds,” he added.

Justin is considered Australia’s hospitality king with over 80 locations and billions in assets with names like Ivy, Queen Chow and Establishment under his purview as CEO of Merivale.

He is the only son of Merivale Group founder and nightclub magnate John Hemmes and Justin took over the company after his father’s death in 2015.