Kate Gosselin is purportedly heartbroken these days. According to a report, her former billionaire boyfriend Jeff Prescott has allegedly dumped her for a younger Belarus beauty.

ET Online said the couple's troubles purportedly started over Labor Day weekend, when Jeff Prescott allegedly cancelled production plans for Kate Gosselin's program, "Kate Plus 8", on the eleventh hour.

Jeff Prescott purportedly claimed that his decision was for the welfare of his three kids from a previous marriage. However, a source revealed that the billionaire and the TV personality were having relationship problems even before the shoot cancellation.

"Problems in the relationship were already brewing over the summer, the source also reveals, when Gosselin became 'frustrated' with Prescott's inability to spend time with her, while he traveled the world," the report said.

"It was actually on those travels when the COO and co-founder of Dreamstime.com -- a microstock photography agency -- met his new girlfriend, a business major. And his new squeeze, who's based in Belarus and New York City, is apparently no slouch -- the attractive blonde is fluent in five languages, the source tells ET, and has plans to launch her own cosmetic line this year," the report continued.

Though Kate Gosselin and Jeff Prescott have yet to issue an official statement to address the rumors, some speculate that it may really be over for the two.

"Prescott and his new girlfriend have been on two trips together - one to Las Vegas and one to Hawaii," Celeb Dirty Laundry reported. "While these trips could simply be for business, it would appear 40-year-old Kate has been left alone again."

According to the report, Kate Gosselin is allegedly very much affected by her failed relationship with the billionaire.

"A source close to the mother of eight revealed that she is absolutely devastated that the billionaire slipped through her fingers," CDL added. "This is the first man she has been romantically linked to since her divorce from Jon Gosselin in 2009."