Channel 9 Today show host Alex Cullen stood down over $50k gift from billionaire Adrian Portelli

A Channel 9 Today show host is in hot water after he was sent a $50,000 gift from Aussie billionaire Adrian Portelli.

Alex Cullen was the first journalist to respond to a social media request made by Portelli, who offered $50,000 to anyone who called him “McLaren Man” in the media, instead of the nickname “Lambo Guy” which he has come to be known for.

WATCH THE VIDEO ABOVE: Today show host stood down over gift from Adrian Portelli.

Cullen dropped the upgraded moniker on-air during a live cross on Friday morning, even sharing footage of the moment on his Instagram account afterwards, tagging Portelli in the post.

“We have a winner! Well played sir,” Portelli wrote in an Instagram story, sharing a screenshot of a bank transfer revealing the eye-watering sum.

Nine said the money would be returned to Portelli and Cullen had stepped down in the meantime.

“Nine is taking this matter extremely seriously,” a Nine spokesperson said.

“Appropriate action has been promptly taken, including arranging for the funds to be returned.

“While we review the circumstances in which this occurred, Alex has agreed to stand down.”

Portelli later blasted the author of the Herald Sun article detailing the incident, in which Portelli continued to be referred to as “Lambo Guy”.

He offered another cash prize to his Instagram followers for the “best comment” left on the journalist’s social media profile which has since been flooded with offensive comments.

“Be respectful and use my real name,” he commented on a screenshot of the Herald Sun article.

“Once you disrespect me, I am going to put my foot down — they are subconsciously trying to degrade me by giving me this nickname, and I’m over it,” he wrote on his Instagram story.

Billionaire businessman Portelli famously had his $3 million McLaren Senna GTR craned 57 storeys off the ground and into the apartment for it to be displayed in the living area, earning him the nickname “The Lambo Guy”.

Accepting cash, gifts or benefits to undermine journalistic independence, and improperly using a journalistic position for personal gain, are both breaches to the Media Entertainment and Arts Alliance (MEAA) Journalist Code of Ethics.

It was created by journalists in 1944 to promote basic values for the Australian media industry.

Court dates over cash cow antics

Portelli is known for dolling out cash to the public at whim, and to boost followers and subscribers.

Late last year he was praised for giving away a reported $150,000 in grocery vouchers at two Coles locations in Western Sydney as cost-of-living relief.

But late last year, his business Xclusive Tech Pty Ltd, which trades as LMCT+ and markets itself as a “shopping tool and rewards club”, had charges brought against them by South Australia’s Consumer and Business Services.

Portelli was charged with nine counts of conducting or assisting in the conduct of an unlawful lottery, while his business has been charged with 10 counts of the same offence.

The prizes included cars, homes, and millions of dollars in cash prizes.

All 10 alleged unlawful lotteries “involved an element of chance”, meaning they fall under the category of trade promotion lotteries under South Australia’s Lotteries Act 2019.

He reportedly skipped his court date on Wednesday, and was seen on Instagram at the time of his scheduled appearance getting a haircut, 7NEWS reported.

His lawyers told the Adelaide Magistrates Court that Portelli would plead not guilty, and hopeds the matter goes to trial as quickly as possible.