Adrian Portelli Dubai move: Billionaire relocates his family overseas, cites taxes as reason
Adrian Portelli has flown the coup and moved overseas.
Australian billionaire Adrian Portelli has flown the coup after declaring that the country is “genuinely finished”.
On Wednesday, the 37-year-old announced he had relocated to Dubai.
Mr Portelli said that part of the reasoning behind the move was related to the country’s lower taxes.
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By continuing you agree to our Terms and Privacy Policy.“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,” he 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.
“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.”
The billionaire ranked fourth on AFR’s Young Rich List last year, with an estimated net worth of $1.41 billion.
Mr Portelli owns LMCT+, a promotions and giveaway company which launched petrol stations earlier this year.
He denied media reports that he had “fled the country” but did not hold back from tearing his homeland and its government to shreds.
“Australia is genuinely finished under its current control and leadership in the form of the government and media,” Mr Potelli wrote on his Instagram story.
“It’s a big brainwashing circus.
“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.”
He told his 1.2 million followers that it was “virtually impossible” for him to leave Australia “for good”, considering he has “so many ties” to the country.
“I do not hate the country,” he said.
He said he would not turn his back on his homeland, hinting at a political future in the future saying he wanted to help “run the show”.
“I’m on a mission to run the show as well as hold the people running this country accountable for the position we find ourselves in today,” he wrote.
“I’d do it for free and donate my wage back to the people. Australians deserve better and we should never be afraid to demand better from the people entrusted to lead us.”
The move and remarks come as gambling reforms introduced by the government are likely to impact his company LMCT+ and its lottery-style giveaways.
