Adrian Portelli was giving away the five properties he bought on The Block. Then the raffle draw crashed.

Adrian Portelli is the billionaire businessman who entered the spotlight via Channel Nine's reality TV series, The Block.

While he was known for his business acumen prior to his appearance, it was the auction day drama that really made him a recognisable name to most Aussies.

Portelli has been back in the news after there was a 24-hour delay to his $8 Million The Block Giveaway. But during the raffle, there were some technical issues that caused the entire draw to crash.

The draw was scheduled for Boxing Day and Portelli was giving away all five Phillip Island properties he had bought on The Block 2024, or $8 million in cash. However, when it was time for the winner to be announced live on Facebook, the 75,000 people attempting to watch caused the LMCT+ systems to crash

"If you did miss the livestream, I have made the decision to draw the winners tomorrow. The gates are closed, and the promotion ran as it should," Portelli said in a video.

"It's annoying, I'm frustrated, but I'd rather be safe and preserve my company's reputation and my reputation and not disappoint you guys or break trust in any way."

Yesterday, Portelli finally announced the giveaway winner: Holly, 34, from Ballarat, who was both shocked and ecstatic at the news.

"Oh my God, no f**king way. I didn't watch the live on purpose because I thought it would be bad luck," she told Portelli on a call.

Earlier this month, the billionaire was in hot water once again when he was charged by South Australian authorities, accused of running an alleged unlawful lottery.

Portelli's business model for LMCT+ is known as a trade promotion lottery — which, under South Australian law, requires a licence to operate for prizes exceeding $5,000. Entries must also be free of charge.

Portelli is facing nine counts of conducting/assisting in the conduct of an unlawful lottery, and his company LMCT+ is facing 10 counts of the same charge.

The alleged offences are said to have occurred between January 29, 2023, and May 16, 2024.

Addressing the news, Portelli shared an Instagram post dedicated to South Australia — with a telling response that indicates he's not backing down.

"It's okay SA we still love you," Portelli said in a post, on the LMCT+ Instagram account. "Your gambling commissioner won't allow you to win major life-changing prizes, so I've decided to run exclusive, DAILY $1,000 cash giveaways to you guys instead."

"We still love you, and I'll definitely be visiting to do more grocery voucher handouts."

Prior to this update, Portelli was making headlines this week thanks to his vouchers.

The businessman gave out $150,000 worth of vouchers to Coles customers in Penrith and Fairfield West.

"It's great to see the looks on people faces just receiving the $200 and $100 — what a change it makes to people's lives," Portelli said.

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After bursting onto The Block scene in 2022, Portelli returned this season to drop millions of dollars on auction day on Phillip Island. He spent $15.03 million, to be exact.

And now he's planning to give all five homes away in a major move for his business, LMCT+, an online marketplace and rewards platform.

To announce the news, Portelli shared a photo of himself on Phillip Island on Instagram.

"Under New Management!" he captioned the post. "And as mayor of Portelli town, I would like to announce a world first. LET'S GIVE AWAY A FKN RESORT!!!"

"1 Giveaway - 1 Prize - Winner takes the whole resort OR take $8,000,000 Instant Tax-Free Cash! Let the games begin."

It's a move that's been applauded by The Block winner, Maddy.

"You've changed our lives forever and now you're going to change someone else's too," she commented on his post.

Maddy and Charlotte celebrate their win with Adrian Portelli (and Scotty Cam). Image: Nine.

So who is he? And how did he make his millions?

Who is Adrian Portelli?

Coming to public attention in 2022 on The Block, Adrian made a name for himself as a wealthy and strategic entrepreneur.

At only 34, Adrian is one of the youngest billionaires in Australia.

He owns several businesses and also engages in a range of philanthropic endeavours, such as his Little Legends Foundation. The organisation seeks to support and aid underprivileged children in the community.

Watch Adrian Portelli unveil his new car on Instagram. Article continues after video.

How does Adrian Portelli make money?

For Adrian, the hustle to become wealthy and successful started when he was young.

"I'm always humble because where I got to wasn't easy," he told the Australian Financial Review in 2023.

As a young man, Adrian started off working at his father's truck repair shop after dropping out of university. Shortly after, he moved to LA, where he founded multiple fairly successful apps that he later sold.

Adrian founded LMCT+ in 2018. It's an auto-enthusiast rewards club that offers subscription members access to prizes including luxury homes, cars, and boats, via monthly draws.

Subscribers also get exclusive offers from more than 1,000 partners including Beaurepaires, Patriot Campers and Prestige Autoworks.

"Our platform not only facilitates access to exclusive deals from more than 1,000 partners but also empowers shoppers to make smart, cost-effective purchases all in one place," Portelli says of his business.

Adrian scored the nickname 'Mr Lambo'. Image: Instagram/adrian_portelli

"Some 100,000 members pay between $20 and $100 a month to access discounts from its partners, and entries to giveaways," the AFR reported in 2023.

"The paper value of LMCT+, which Portelli started in 2018, is the main source of his wealth. Add in large collections of sports cars and properties, and his estimated valuation is $1 billion, which puts him in seventh spot on the 2023 AFR Young Rich List."

What is Adrian Portelli's net worth?

Then in 2024, Adrian was listed number 115 on The List—Australia's Richest 250, with the publication placing his net worth at $1.3 billion.

Arian Portelli with a construction crew on his Instagram. Image: Instagram/adrian_portelli

Adrian Portelli's first appearance on The Block.

At first glance, property investor and entrepreneur Adrian Portelli seemed flashy. He pulled up at Omar and Oz's auction in 2022 in a yellow Lamborghini and earned himself the nickname 'Mr. Lambo'.

His impressive appearance the following year on Auction Day on The Block 2023 turned even more heads, when he purchased not one, not two, but three houses in a single day.

But a closer look at 'Mr. Lambo' proves there is a lot more to him and his achievements.

How many homes has Adrian Portelli bought on The Block? 

In 2022, Adrian bought Sharon and Ankur's house after Auction, for a casual $4.25 million. He had initially wanted to buy Oz and Omar's home, but was outbid by Danny Wallis.

He was accused of being a 'dummy bidder' and intentionally driving up the prize of Oz and Omar's house, but he says his intentions were always honourable.

The following year in 2023, Adrian bought 3 houses on on Charming Street. He spent $12.4 million.

"After the slack I copped last year, I had to prove I'm not a dummy bidder," he told Nine. "I came out hard and strong."

In the 2024 season, he was certainly in the mood to purchase big.

"The houses will all sell for the one price and the well-established Adrian Portelli wants them all," an insider had previously told Yahoo Lifestyle.

"Adrian has been very vocal during discussions with the producers and has also told his close friends he will be buying the entire resort for his LMCT+ website for up to $15 million. It will be the noisiest sale in Block history and that's perfect for his business model."

In the end, it turns out he did actually buy the lot for just over $15 million. That source should take up a career in telling fortunes.

Portelli's historic run on auction day was truly impressive.

First, he bought Courtney and Grant's House 2 — for a cool and casual $3.3 million, with the couple taking home $1.35 million in profit. Talk about starting off strong.

Then, he bought Kylie and Brad's House 4. While he didn't drop quite as much on their place, he did purchase the property for a whopping $2.6 million. The couple took home $650,000.

Using a dummy bidder, Portelli also bought Kristian and Mimi's place. Surprise! The home sold for $2.93 million, leaving them with a profit of $1.03 million above their $1.9 million reserve. WOW.

"All the contestants were playing the game, so I thought I'd play the game back. I didn't want anyone to know what we were doing," he said of the 'gotcha' moment.

Up next, Portelli bought Haydn and Ricky's House 3.

Their home sold for $2.75 million, meaning they made $750,000 above their reserve.

And finally, he made the ultimate bid on Maddy and Charlotte's House 1: dropping $3.5 million in a move that would see them take home $1.55 million in profit (plus $100,000 in winnings).

"We are just so grateful, and it's a very surreal feeling," said Maddy. "You can't anticipate how something like The Block will end, but it is the perfect ending for us. I think there is such a special relationship with sisters, and I'm so proud of both of us and how hard we worked."

The sisters celebrate their incredible win, courtesy of Adrian Portelli. Image: Nine.

In the hours following the finale, Portelli admitted he 'rigged' the auction results in favour of the girls — and even encouraged them to choose fifth in auction order.

"We hand selected the auction order make sure the girls went last. So we can get them to win," Portelli said on Nova this morning.

Why?

"It's the girls. They cared. They came in late. They were the underdogs. They were picked on. They were bullied," he says, adding his partner is a big fan of The Block and had backed the girls.

Portelli also admitted the girls knew his plan all along — but none of the other teams had been warned.

"It was just the girls. How good is that? The girls that are the most sweetest and innocent, were playing the game the best," he said.

Following his stunning sweep, Portelli announced this would be his final appearance on The Block.

This article was previously published in August 2024, and has been updated with new information.

Feature Image: Channel Nine.