A billionaire Porsche heir who is divorcing his wife over her dementia has moved in with his new girlfriend, it has emerged.

Wolfgang Porsche – an executive with the German sports car firm – is reportedly now living with his new girlfriend 59-year-old Princess Inaara Aga Khan.

The relationship has come to light after Khan – born plain Gabriele Renate Homey – accompanied the 79-year-old tycoon to the Maldives in January.

Her close circle of friends told Austrian media that the couple’s decision to move in together came as both of them wanted to avoid spending time apart.

It has not been disclosed, however, whether they have moved into Porsche’s house in Zell am See, Austria, or the princess’s luxurious villa in Munich.

Porsche stunned European high society when he filed for divorce from his wife Claudia Porsche, 74, saying that her illness has changed her personality.

Wolfgang and Claudia have been together since 2007 and got married in 2019.

The Porsche family’s assets have been estimated at EUR 20 billion Euros, or around GBP 18 billion.

Claudia has been living close to her daughter for almost two years and has four carers who look after her around the clock.

She has not been able to move independently for months, according to local media, and her mental awareness has undergone a rapid decline.

Princess Inaara married the Aga Khan in 1998 and the couple divorced 16 years later.

She is a member of the fabulously wealthy Thysson German steel dynasty.

Porsche is a German-Austrian shareholder and chairman of the Supervisory Board of Porsche Automobil Holding SE, as well as of Porsche AG.

The Stuttgart-born executive is the youngest son of former Porsche AG designer and Chief Executive Officer Ferdinand ‘Ferry’ Porsche and Dorothea Reitz.

His oldest brother is Ferdinand ‘Butzi’ Porsche, who designed the first Porsche 911.

He has four children, two to director and screenplay writer Susanne Bresser, who he married in 1988 and divorced in 2008.