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Geoffrey Edelsten proposes to Gabi Grecko at the Melbourne Cup

Geoffrey Edelsten proposed to Gabi Grecko outside the Birdcage at Flemington Racecourse in Melbourne. Photo: Twitter

Billionaire businessman Geoffrey Edelsten and his girlfriend Gabi Grecko have been keeping a relatively low profile of late, however they made a spectacular return to the spotlight at today's Melbourne Cup.

The 71-year-old, dressed in a canary yellow suit, got down on bended knee and presented a stunning pear-shaped sparkler to his model girlfriend in front of a large crowd outside the Birdcage at Flemington Racecourse.

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Despite having openly discussed their plans for marriage for months, Gabi was yet to receive the rock, which she reportedly accepted with a thumbs up and happily flashed on her red leather gloved hands.

The 25-year-old made sure all eyes were on her, wearing one of her most outrageous ensembles yet which featured a clown-covered corset with feathered skirt and headdress, suspender stocking and an orange wig.

The on-again, off-again couple have been forced to take their relationship long distance of late while Gabi pursues her fashion career in New York and Geoff tends to business in Australia.

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