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

The Merivale billionaire, 52, and his girlfriend, 27, are in the early stages of pregnancy and have already told their families and friends about their happy baby news.

Justin already shares two daughters Alexa, six, and Saachi, five, with his model ex 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 representatives for comment.

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

Last June, Madeline sparked engagement rumors when eagle-eyed fans noticed she was wearing a ring on her wedding finger.

Justin Hemmes is to become a father again as he is expecting a baby with girlfriend Madeline Holtznagel (both pictured in December 2022), it has been revealed

One picture showed her wearing the jewelery as she snuggled 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 photograph showed her wearing another ring on the same finger as she posed for a selfie.