Paris Hilton is dating a multi-millionaire businessman.

The 34-year-old socialite was seen kissing a mystery man on a yacht off the coast of the Spanish island of Formentera and he has now been identified as 39-year-old Thomas Gross, a self-made tycoon with an estimated fortune of $200 million.

The new couple are believed to have been dating for around a month and are having ''a lot of fun'' together.

A source told ''They met at the Cannes Film Festival in May and have been dating ever since. They are having a lot of fun getting to know each other.

''She is thrilled she has found a real man who is such a gentleman. Paris loves the way he treats her and they are having a good time.''

While she appears to be smitten with Thomas, Paris - who split from model River Viiperi last summer after two years of dating - recently insisted she wanted to stay single for a while.

She said: ''I'm doing what I want. I don't really have time for a boyfriend. I'd rather be single.''

However, the blonde beauty also admitted that she desperately wants to star a family.

She said: ''I feel like I've pretty much done everything I've wanted to do. I've done music, designing, TV, everything. The one thing I didn't get involved in until a couple of years ago is real estate, and now I'm following in my family's footsteps, opening my own properties - I love that. But next is (definitely) having a family.''