Controversial Melbourne investor Adrian Portelli, also known as ‘Mr Lambo’, has brought in another multi-million dollar property as his business continues to grow.
On Wednesday, 34-year-old Portelli took to Instagram to announce that he had bought his business partner Troy ‘Candy’ Williams’ $3 million waterfront home on the Gold Coast.
The five-bedroom, four-bathroom home was listed for $2.8 million to $3 million, but the exact sale price has not been disclosed.
Portelli (above) made headlines in 2022 when he showed up for auction in a yellow Lamborghini in front of The Block contestants Omar and Oz’s home
Influencer Troy ‘Candy’ Williams sold his $3 million home to The Block’s controversial ‘Lambo Guy’ bidder Adrian Portelli (pictured, the photo the couple shared when they announced the sale)
The purchase is just the latest in Portelli’s extensive property portfolio, which includes Melbourne’s most expensive apartment.
Last year, the entrepreneur admitted that he didn’t know the full size of his ever-expanding real estate portfolio. He also said he lost count of how many luxury cars he owns.
Despite his bold taste, Mr. Portrelli came from humble beginnings.
Flamboyant real estate investor Adrian Portelli is known as ‘Mr Lambo’ after appearing on the reality TV show The Block
The 34-year-old dropped out of college to work in his father’s truck repair business before moving to Los Angeles to start a celebrity limousine service.
While struggling to pay the 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 later in 2018 he founded the car enthusiasts club LMCT+, which grew into Australia’s largest and fastest growing car community, earning an estimated $60 million last year.
LMCT+ makes money by charging subscription fees to users, who gain access to exclusive competitions, with prizes such as houses, bicycles, cars and boats.
Subscribers also receive exclusive offers from more than 1,000 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 that $500 million was a “conservative estimate” of his net worth.
“If I don’t work 16, 17, 18 hours a day, I’m f*cking depressed,” he told a podcast last October.
“I’ve been absolutely broke, and now I have a lot of money, and I’m still not satisfied. I’m still not happy,” he continued.
‘I have the cars I wanted, I dreamed of as a child, I have everything, houses all over Australia… I don’t know how many cars I have, I don’t know how much money, I don’t know’ I don’t know how many houses , there’s just shit everywhere.’
Mr Portelli made headlines after appearing on Channel Nine’s The Block last year when he made a record-breaking bid for the house renovated by contestants Omar and Oz but sparked accusations it was a ‘dummy bid’ to raise the price to drive up.
He hit the headlines again in May this year after posting photos of himself posing next to the race car he just hauled into 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 possible,” he wrote.
Mr Portelli, known as ‘Mr Lambo’, has hit back at critics over his crane lifting a $2 million sports car into his luxury penthouse apartment
But community reaction to the stunt was immediate, with Portelli defending and attacking his performance on The Block Greens leader Adam Bandt who criticized him on Twitter for the crane stunt.
“Labour gives this man a $9,000 tax cut while people starve on $52 a day,” Bandt wrote.
Portelli did not hold back his reaction.
“Who the hell is this guy trying to use me as a political tool to sympathize with,” he wrote with a red circle around a photo of Mr. Bandt.
Portelli lashed out at those claims and criticism his daring crane stunt had drawn.
“First, my name was publicly thrown out, implying I was a dummy bidder who couldn’t afford The Block house,” he wrote.
“I even suggested that I was friends with the contestants because of my ethnicity.
“Now (sic) people are crying because I have too much money.
‘MAKE IT PEOPLE’
The 34-year-old purchased the luxury penthouse last month in a sale that broke the record for the city’s most expensive apartment when it handed over a whopping $39 million.
However, Mr. Portelli stated that he only wants to use it as a ‘weekender’.
Earlier this year, Daily Mail Australia revealed that Portelli was attempting to suppress hooning charges from the public based on his public profile.
However, the judge rejected any idea to issue a suppression order, open court, and provide Portelli’s indictment forms to the media.
Court documents show Portelli is charged with taunting at Diggers Rest just before Christmas of 2020, with police each charging him with careless driving, failing to properly control a vehicle and driving in a manner that caused a vehicle to lose traction.
The court heard that Portelli had been released on bail, despite the charges each classed as “summary crimes,” which are considered less serious.
The circumstances surrounding how police brought their case against Portelli and what type of vehicle he was driving at the time of the alleged offenses will remain unknown until his next trial in July.
His lawyer said Portelli intended to defend the allegations and called on police to provide unredacted copies of both body worn and dashcam footage captured by the officers who intercepted her client.