The Block 2024 auction: Who is serial buyer Adrian Portelli?

Adrian Portelli has quite the track record on The Block. The young entrepreneur bought three houses during the reality show's 2023 final and is said to be considering buying all five of the houses on offer this year. At just 35 years old, the Melbourne local Adrian became a force to be reckoned with during last year's Block finale when he made a grand entrance in a bright yellow Lamborghini (earning him the name "Mr Lambo") and placing a staggering $5.5 million bid on the winning house.

While he may have been outbid, he left a lasting impression by shelling out a cool $4.25 million in cash for the runner-up's property. In total, he spent $12 million at the auction on his three Charming Street abodes.

So who exactly is this guy?

Who is Adrian Portelli?

Father-of-one Adrian isn't your typical Block buyer. He's a flamboyant billionaire, celebrated for his attention-seeking stunts and passion for sports cars. He's even earned a spot on AFR's Young Rich List of Australia's 100 wealthiest people under 40.

Adrian, a university dropout, started his career in the family's truck repair business. However, he soon discovered his ticket to wealth within the bustling tech landscape of Los Angeles. During his tenure there, he ventured into tech start-ups, collaborating with a roommate to develop a suite of highly lucrative mobile apps, which were sold for substantial profits.

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His net worth currently stands at an eye-watering $1 billion, according to AFR Magazine, and he's not afraid to show off his deep pockets. In 2022, he made headlines with the acquisition of a rare supercar, shelling out a whopping $6.5 million for the prized possession.

He even grabbed international attention in May 2023 when he orchestrated the jaw-dropping feat of craning his $3 million supercar into the living room of his $39 million Melbourne penthouse.

How did Adrian Portelli make his fortune?

Adrian is the founder of LMCT, a promotional platform focusing on luxury vehicles and prestige homes. It's through LMCT and other entrepreneurial endeavours, as well as strategic property investments, that he has built his wealth.

Adrian started LMCT in 2018 with the vision of "giving everyday Australians a chance to save thousands from our network and help change some lives along the way".

Now, you might be curious about how a business like LMCT makes money. The system is quite straightforward; subscribers willingly pay $20, $50 or $100 per month to participate in giveaway opportunities, including lavish homes and luxury cars. Notably, Adrian even gave away one of The Block properties he acquired last year through LMCT.

Billionaire philanthropist

It's not all flashy cars and expensive houses, as Adrian's passions also extend beyond business to philanthropy. He is the driving force behind the Little Legends Foundation, which aims to brighten the lives of Aussie children suffering from chronic illnesses and a range of disabilities.

The foundation collaborates with other charities like Ronald McDonald House to grant wishes, host activities and events, and provide financial support when needed the most.

Will Adrian Portelli buy all of the houses on The Block in 2024?

While we don't know for sure what his game plan will be for this year's auction, there has been speculation that Adrian will buy all five houses that make up the Philip Island holiday resort.

National Property Editor at Domain, Alice Stolz told Yahoo Lifestyle that while she couldn't confirm if all of the houses would go to Adrian, she also "wouldn't be surprised".

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"I haven't heard that, but I'm not surprised by that at all," she said. "And I mean, honestly, I would think that would make an incredible parcel to purchase. And I say that because there's something about the idea that all five houses together offer even more opportunity."

She continued, "So I'll be intrigued, and I wouldn't be completely surprised if someone considered buying all five. But again, like we're looking at $10 million plus. That's a lot of Block dollars. Who knows, as I said, before anything could happen."

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