DiCaprio, who dated Bündchen for five years in the early Noughties, and Brady, to whom the supermodel was married to from 2009 to 2022, were photographed on a yacht in Sardinia this week.
Former football quarterback Brady, who played in the National Football League (NFL), shared a joint statement in October that he and Bündchen ended their marriage of 13 years.
According to TMZ, which published photographs of DiCaprio, 48, and Brady, 45, lounging on the vessel near the Italian island, the pair were part of a group celebrating the birthday of their mutual friend Bert Hedaya, the co-owner of an electric race-car team.
DiCaprio and Brady reportedly spent even more time together as they attended the lavish Sardinia wedding of billionaire Joe Nahmad and model Madison Headrick over the weekend.
PageSix reports that the wedding celebration took place at the Hotel Cala di Volpe and was also attended by Serena and Venus Williams, and model Irina Shayk.
DiCaprio’s presence in Italy comes after he attended the 2023 Cannes Film Festival for the premiere of his forthcoming film Killers of the Flower Moon, directed by Martin Scorsese.
The film, which also stars Lily Gladstone and Robert De Niro, received a nine-minute standing ovation at the festival and has been hailed as a “masterpiece”.
Following his relationship with Bündchen, DiCaprio has been romantically linked to a string of famous women, including Israeli model Bar Refaeli and, most recently, actor Camila Morrone.
Earlier this year, Bündchen opened up about her divorce from Brady and described it as “the death of my dream” in an interview with Vanity Fair.
The supermodel, who shares two children with the athlete, said the couple had grown apart and she wanted to prioritise a “huge list of things” she wanted to do to feel “more connected with my purpose”.
“When I was 26 years old and he was 29 years old, we met, we wanted a family, we wanted things together,” she told the magazine. “As time goes by, we realise that we just wanted different things, and now we have a choice to make.
“That doesn’t mean you don’t love the person. It just means that in order for you to be authentic and truly live the life that you want to live, you have to have somebody who can meet you in the middle, right? It’s a dance. It’s a balance.”