Australian billionaire Adrian Portelli has relocated to Dubai, stating that Australia is "genuinely finished under its current control and leadership." Portelli made these remarks on social media, criticizing the Albanese government and what he described as a "big brainwashing circus."
He asserted that the move to Dubai had been planned for three years, with his intentions consistently communicated to the Australian Taxation Office (ATO). While initially considering Italy as a base for his international business, Portelli and his family ultimately chose Dubai for its perceived safety, high-quality education, and proximity for travel to Australia. He also noted that the United Arab Emirates offers tax-free living, though Australian tax residents remain subject to Australian tax obligations.
Portelli indicated that he is contemplating a future in public office, stating he would not "turn his back" on Australians. He expressed a mission to "run the show" and hold current leaders accountable, suggesting he would serve without pay and donate his salary back to the public.
His relocation follows recent scrutiny of his subscriber-based lottery business, LMCT+. Proposed gambling reforms, released in June, aim to prohibit lotteries operating under the guise of subscription-based rewards programs. Such legislation could impact businesses like LMCT+, which offers luxury items and experiences through prize draws tied to memberships.
Portelli has also recently opened a discount petrol station in Melbourne and has plans to establish a supermarket in the city's west for LMCT+ subscribers. He also shared observations about the cost of goods in Dubai, noting that Australian beef purchased there was comparable in price to items found in Australian supermarkets.
