Controversial Melbourne investor Adrian Portelli, also known as ‘Mr Lambo’ has brought another multi-million-dollar property, as his business continues to boom.
On Wednesday, Portelli, 34, took to Instagram to announce he’d bought his business partner Troy ‘Candy’ Williams’ $3million waterfront Gold Coast home.
The five-bedroom, four-bathroom home was listed on the market for $2.8million to $3million, but the exact sale price hasn’t been revealed.
The purchase is only the latest in Portelli’s extensive real estate portfolio, which includes Melbourne’s most expensive apartment.
Last year, the entrepreneur admitted he did not know the full scale of his ever increasing property portfolio. He also said he had lost count of just how many luxury cars he owns.
Portelli (above) made headlines in 2022 when he arrived to the auction for The Block contestants Omar and Oz’s house in a yellow Lamborghini
Influencer Troy ‘Candy’ Williams sold his $3million home to controversial ‘Lambo Guy’ bidder from The Block, Adrian Portelli (pictured, the photo the pair shared announcing the sale)
Despite his audacious taste, Mr Portrelli came from humble beginnings.
The 34-year-old dropped out of university to work at his father’s truck repair business before moving to Los Angeles to launch a limousine service for celebrities.
While struggling to pay rent, he found a roommate online who helped him develop several successful apps, which he later sold.
However, Portelli’s passion has always been cars, and he later founded the auto enthusiast club LMCT+ in 2018, which grown to become Australia’s largest and fastest-growing car community, earning an estimated $60million last year.
LMCT+ makes money by charging a subscription fee to users, who gain access to exclusive competitions, with prizes including homes, bikes, cars and boats.
Subscribers also get exclusive offers from over 1000 partners, such as Beaurepaires, Patriot Campers and Prestige Autoworks.
It has about 100,000 customers who pay a monthly subscription.
Portelli told Daily Mail Australia $500million was a ‘conservative estimate’ of his net worth.
Flamboyant property investor Adrian Portelli is known as ‘Mr Lambo’
‘If I am not working 16, 17, 18 hours a day, I am f*cking depressed,’ he told a podcast last October.
‘I have been absolutely broke, and now I have a lot of money, and I am still not content. I am still not happy,’ he continued.
‘I have the cars I wanted, I dreamed of as a kid, I have everything, houses all around Australia…I don’t know how many cars I have got, I don’t know how much money, I don’t know how many houses, there is just sh*t everywhere.’
Mr Portelli made headlines after an appearance on Channel Nine’s The Block last year when he placed a record-breaking bid on the home renovated by contestants Omar and Oz, but which led to accusations it was a ‘dummy bid’ to drive the price up.
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He was back in the news in May this year after posting pictures of himself posing next to the racecar he had just hoisted up to his high-rise apartment.
‘A first look at the McLaren Senna GTR 57 floors up. A huge thank you to everyone involved for making this absolutely surreal moment happen,’ he wrote.
But the community backlash over the stunt was instant, with Portelli defending his appearance on The Block and attacking Greens leader Adam Bandt who criticised him on Twitter for the crane stunt.
‘Labor’s giving this guy a $9,000 tax cut while people starve on $52 a day’ Mr Bandt wrote.
Portelli did not hold back in his response.
‘Who the fook is this guy trying to use me as a political tool to sympathise,’ he wrote with a red circle around a picture of Mr Bandt.
Portelli lashed out over those claims and criticism his audacious crane stunt had attracted.
‘First my name was trashed publicly suggesting I was a dummy bidder who couldn’t afford The Block house,’ he wrote.
‘Even suggesting I was friends with the contestants because of my ethnicity.
‘Now there (sic) people are crying because I’ve got too much money.
‘MAKE UP YOUR MIND PEOPLE.’
The 34-year-old bought the luxury penthouse last month in a sale that broke the record for the city’s most expensive apartment as he handed over a whopping $39million.
However, Mr Portelli stated that he only intends to use it as a ‘weekender’.
Earlier this year, Daily Mail Australia revealed Portelli tried to suppress hooning charges from the public on the back of his public profile.
However the judge dismissed any notion of issuing a suppression order, opening the court and providing Portelli’s charge sheets to the media.
Court documents reveal Portelli is accused of hooning at Diggers Rest just before Christmas of 2020, with police hitting him with a charge each of careless driving, failing to have proper control of a vehicle and driving in a manner causing a vehicle to lose traction.
Mr Portelli hit back at critics of his crane lifting a $2million sports car into his penthouse luxury apartment
The court heard Portelli was placed on bail despite the charges each being classed as ‘summary offences’, which are considered to be less serious.
The circumstances around how police put their case against Portelli, and what kind of vehicle he was driving at the time of the alleged offences, will remain unknown until his next court appearance in July.
His lawyer said Portelli intended to defend the charges and called on police to supply unredacted copies of both body-worn and dashcam footage captured by the officers that intercepted her client.
