Adrian Portelli hypercar car crane lift in Melbourne outrages Adam ...

11 May 2023
Adrian Portelli

A millionaire property investor who was filmed craning a flashy sport car into his 57th storey penthouse has sparked political backlash.

Adrian Portelli, who is known as 'Mr Lambo' for his love of flashy cars, shared photos on Instagram on Tuesday of the $2million car being lifted into the $39 million penthouse in the Sapphire by the Gardens tower in East Melbourne.

Mr Portelli made headlines after an appearance on Channel Nine's The Block last year when he placed a record-breaking bid on the home renovated by contestants Omar and Oz.

A post about the car being craned into his house sparked a flurry of criticism with Greens leader Adam Bandt leading the backlash.

'Labor's giving this guy a $9,000 tax cut while people starve on $52 a day,' Mr Bandt wrote on Twitter.

Mr Bandt was referring to the Stage Three tax cuts slated to come into effect in the 2024-25 financial year, which were introduced by Scott Morrison's government and the Albanese Government has so far stood by. 

Melbourne property developer Adrian Portelli's audacious stunt of crane lifing a $2million race car into his 57-th floor luxury apartment has created a storm of outrage

The cuts will scrap the 37 per cent marginal tax bracket, lower the 32.5 per cent tax rate to 30 per cent and create a new top marginal tax rate of 45 per cent for those earning over $200,000.

It means everyone who makes between $45,000 and $200,000 will pay the same marginal tax rate. Voters on $60,000 will be eligible for a $375 tax cut, while those who earn more than $200,000 will be eligible for $9,075. 

Richard Denniss, the executive director of left-leaning think tank The Australia Institute, tweeted: 'The cost of living crisis is really biting the wealthy…roll on the $250 billion worth of stage 3 tax cuts so that more Australians will be able to afford to crane their racing car collection into their penthouse.'  

Rachel Withers, a contributing editor to The Monthly, tweeted a similar comment about the flashy spectacle.

'People on JobSeeker are getting an extra $2.86 per day!' she wrote. 

The Albanese government released the federal budget on Tuesday revealing the JobSeeker payment would be increased by $2.85 a day, or $40 per fortnight. 

ANU Professor and former political correspondent Mark Kenny also weighed in. 'Typically tasteless,' he wrote.

'Why do media keep implicitly lauding such obscene displays of wealth and ego? 

Mr Portelli, who is worth an estimated $350million, posted pictures of himself posing next to the McLaren Senna GTR in 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 happen,' he wrote. 

The 34-year-old bought the luxury penthouse last month in a sale that broke the record for the city's most expensive apartment as handed over a whopping $39million. 

Mr Portelli is known as 'Mr Lambo' and is seen posing with a hyper car  

Greens leader Adam Bandt expressed his outrage after Portelli's flashy display of wealth

However, he only intends to use it as a weekender.

The businessman, known as 'Mr Lambo' for his love of sports cars, told realestate.com.au he decided to buy the apartment the same day he saw it because of 'the security' and it being a 'blank canvas'.

He also admitted that a selling point was the penthouse's direct link to the second tower, which will house a five-star Shangri-La hotel.

Mr Portelli made headlines last year for pushing up the price of Omar and Oz's home during The Block finale.

He opened the bidding at $4.5million - far above the $4.08million reserve - and his aggressive style meant eventual buyer Danny Wallis ended up paying an eye-watering $5,666,666.66 for the five-bedroom, 10-acre Gisborne estate.

In a post auction private sale he instead paid $4.25million for Sharon Johal and Ankur Dogra's house. 

As well as property investment Mr Portelli also runs his own promotions and giveaway business, focusing on luxury vehicles and prestige houses.

He has established a charity The Little Legends Foundation, which provides urgent medical care and offers experiences for vulnerable children. 

Stage three tax cuts

The stage three cuts scrap planned to take effect in the 2024-25 financial year will see the 37 per cent marginal tax bracket abolished while lowers the 32.5 per cent tax rate to 30 per cent for all individuals earning between $45,000 and $200,000.

A new top marginal tax rate of 45 per cent would apply for those earning more than $200,000.

Below Daily Mail Australia has compiled a list of how much residents will get back based on their salaries:

Annual salary      Tax cut 

45,000                  0

60,000                  375

80,000                  875

120,000                1,875

150,000               3,975

200,000              9,075

250,000              9,075

300,000             9,075

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