Has supermodel Elle Macpherson snagged a much younger man?

The 44-year-old beauty is rumored to be dating 21-year-old Vito Schnabel, son of famed director Julian Schnabel.

But when "Extra" caught up with Elle at The Annual Femmy Gala in New York honoring her lingerie line, the Aussie beauty said, “It makes for good newspaper stuff, doesn’t it? I’m good friends with Julian and all the Schnabels. They’re friends of the family.”