The 28-year-old, who has been single since her split from boyfriend of 10-years Dave Clark in 2016, was spotted heading to dinner in LA with Williams.
The Sun reports that Williams works with former boxer Floyd Mayweather and the two are currently working on opening a series of gyms around the world.
But, it may have just been a dinner between friends as Williams' girlfriend quickly shut the rumours down.
Sharing a photo of herself with Williams, Lucinda Aragon, a US reality star, confirmed she was in fact the CEO's girlfriend.
Aragon told The Sun, 'Yeah, that’s my boyfriend! We’re just having a really good laugh over all the comments.'
Looks like the royal is still on the market.