Tiger Woods' ex-wife Erin Nordegren has officially moved on with her life and is reportedly dating a billionaire hunk, Chris Cline.

Nordegren, and Cline, 53, both have mansions in the exclusive North Palm Beach oceanfront community of Seminole Landing, where Nordegren had her home rebuilt after splitting with Woods, according to reports.

"Elin and Chris have been dating since the holidays," a source told The New York Post.

Forbes noted that Cline is the owner of Foresight Energy, a coal company. Foresight Energy produces 20 million tons of coal a year mostly in Illinois. Cline is worth a reported $1.2 billion.

The coal business has been in Cline's family tradition. When he was 21, his father brought out a mining partner's share for $500,000 which he gave to Cline.

Cline owns a 150-acre estate in his hometown of Beckley, West Virginia and a 34,000 square foot ocean from his mansion in Palm Beach, Fla. where Foresight Energy is stationed.  According to Bloomberg, he also owns a luxury yacht called Mine Game that features five staterooms and a two-person submarine. The Post reported that Cline hosted a fund-raising reception for Mitt Romney at his home in September, which may conclude that he is a Republican.

Cline is very proud of the coal work he does, despite what environmentalists might say about coal. "As far as the social acceptability of coal, I like to think I'm part of supplying the cheapest energy in America," Cline told Bloomberg in October 2010.

US Weekly reported that Cline has been previously married twice and has four children, two sons and two daughters. Cline's first wife, Sabrina, died of breast cancer in 1987. He married his second wife Kelly in 1993, but divorced in 2000.

A few weeks ago, Nordegren was photographed with Woods at the WGC-Cadillac Championship Tournament, which Woods later won. The golfer has been reportedly dating Olympic skier Lindsey Vonn for several months, and even sent his private jet to transport the gold medalist when she injured her leg in Austria.

A representative for Cline did not comment.