Ted Forstmann and Padma Lakshmi
11/20/2011 AT 03:55 PM EST
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
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.