Theodore Forstmann Has Died

11/20/2011 at 03:55 PM EST

Padma Lakshmi's Beau Theodore Forstmann Has Died
Ted Forstmann and Padma Lakshmi
Larry Busacca/Wireimage
Theodore "Teddy" Forstmann, a veteran business leader and philanthropist who was romantically linked to Padma Lakshmi, died Sunday. He was 71.

Forstmann suffered from brain cancer, his spokesman tells The New York Times.

Although the famed billionaire never married, he dated Top Chef host Lakshmi, 41, over the last several years. Their relationship made headlines when she gave birth to now 1-year-old daughter Krishna in February 2010, which spawned speculation over the identity of the father. (Venture capitalist Adam Dell was later revealed as the father.)

Forstmann was also briefly linked to Princess Diana. According to The Diana Chronicles by Newsweek and The Daily Beast editor Tina Brown, the two were plotting to wed in the last weeks of her life.

Forstmann, who invested in companies ranging from Gulfstream Aerospace to Dr. Pepper, is survived by his two sons, Siya and Everest, brothers Anthony and John, and sisters Marina Forstmann Day and Elissa Forstmann Moran.

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