Adrian Portelli’s Dubai Move Won’t Derail His Australian Empire
Australian billionaire Adrian Portelli has announced his relocation to Dubai, a move that has sparked questions about the future of his business empire back home. But despite his harsh words for Australia’s leadership, his commercial operations remain firmly anchored in the country.
Portelli, who made his fortune through LMCT+, a subscriber-based promotions company, declared on Wednesday that Australia is “genuinely finished under its current control and leadership.” He cited lower taxes, safety, and top-tier education for his children as key reasons for the move, which he said had been planned for three years.
“My family and I were initially meant to move to Italy, which was going to be the base for my overseas business. However, at the last minute, we changed our plans and chose Dubai,” Portelli said. “It’s safer, there’s top-tier education for my children, and it’s far easier for us to commute back and forth to Australia and for our friends and family to visit us. And yes, it’s tax-free. Good.”
Portelli, who ranked fourth on AFR’s Young Rich List last year with an estimated net worth of $1.41 billion, denied media reports that he had “fled the country.” He insisted he has “so many ties” to Australia and does not hate the country. His Instagram story, addressed to his 1.2 million followers, said: “Apparently, I ‘fled’ to Dubai. Actually, if you must know, I’ve been planning this move for three years and lodged my plans with the ATO the entire time.”
Despite the geographic shift, Portelli’s business interests are expanding across Australia. LMCT+, known for its flashy prize draws for luxury cars, homes, and cash, is moving into everyday spending. Its first members-only petrol station in Preston drew large crowds earlier this year, and a second is due to open in Adelaide within weeks. Portelli is also preparing to open a barber chain powered by LMCT+ in Deer Park, in partnership with Jordan Tabakman, with plans for a national rollout.
“Looks like we’re opening a lot more barber shops nationally,” Tabakman said in late July. “Adrian and I open the doors in eight weeks to The Barber Club powered by LMCT+ in Deer Park next door to the supermarket. The first of many to come around Australia.”
The Deer Park site, which will also include a supermarket, signals Portelli’s ambition to move beyond giveaways and into essential retail. He has also been active in property giveaways, having bought two rundown Bulleen houses for about $2.7 million and given them away via Channel 7’s My Reno Rules.
Portelli’s criticism of Australia extended to the government’s use of tax revenue. “My $100m ATO donation clearly wasn’t put towards bettering the lives of Australians, so I’ll do it myself and build necessities in the form of petrol stations and supermarkets,” he said.
His comments come amid draft legislation released in June that would ban lotteries operating under the guise of subscription rewards programs—a potential threat to LMCT+’s model. However, Portelli appears undeterred, framing his business efforts as a direct response to perceived government failures.
While Portelli now calls Dubai home, his customer base, growth plans, and brand power remain overwhelmingly Australian. As he put it, he wants to help “run the show” and hold people accountable, even suggesting he would donate his wage if given the chance. For now, his empire continues to grow Down Under, even if its founder has moved abroad.