A millionaire real estate investor has hit back at critics of his “rich flex,” in which he used a crane to lift a race car 57 stories to display it in his penthouse.
Adrian Portelli, who is known as ‘Mr Lambo’ for his love of flashy cars, shared photos on Instagram on Tuesday of the $2 million car being lifted into the $39 million penthouse in the Sapphire by the Gardens tower in the Melbourne CDB.
In response to the footage, Greens leader Adam Bandt tweeted: “Labour is giving this man a tax cut of $9,000 while people are starving at $52 a day,” comparing tax cuts Mr Portelli will get and the amount living on JobSeeker.
Mr Portelli, posting on Instagram, did not hold back on Thursday.
“Who the hell is this guy trying to use me as a political tool to sympathize with,” he wrote with a red circle around a photo of Mr. Bandt.
Mr Portelli, known as ‘Mr Lambo’, has hit back at critics over his crane lifting a $2 million sports car into his luxury penthouse apartment
Mr Portelli made headlines after appearing on Channel Nine’s The Block last year when he made a record-breaking bid for the house renovated by contestants Omar and Oz, but sparked accusations it was a ‘dummy bid’ to to drive up the price.
On his Instagram account, Mr Portelli lashed out at those claims and criticism his daring crane stunt had generated.
“First, my name was publicly thrown out, implying I was a dummy bidder who couldn’t afford The Block house,” he wrote.
“I even suggested that I was friends with the contestants because of my ethnicity.
“Now (sic) people are crying because I have too much money.
‘MAKE IT PEOPLE’
Mr Bandt’s criticism was shared by a number of other progressive commentators.
Richard Denniss, the executive director of the left-wing think tank The Australia Institute, tweeted: ‘The cost of living crisis is really biting the wealthy… continue with the $250 billion in phase 3 tax cuts so more Australians can relate afford to hoist their collection of race cars into their penthouse.’
Rachel Withers, an editor of The Monthly, tweeted a similar comment about the flashy spectacle.
Mr Portelli was responding to Greens leader Adam Bandt’s criticism of his race car lift using a crane
“People on JobSeeker get $2.86 extra per day!” she wrote.
The Albanian government released the federal budget on Tuesday, revealing that the jobseeker’s pay would be increased by $2.85 per day, or $40 every two weeks.
ANU professor and former political correspondent Mark Kenny also weighed in. “Typically tasteless,” he wrote.
“Why does the media continue to implicitly praise such lewd displays of wealth and ego?”
The third stage tax cuts, which are expected to take effect in fiscal year 2024-2025, were introduced by the government of Scott Morrison, but the Albanian government has adhered to them.
Under the measures, the 37 percent marginal tax bracket will be dropped and the 32.5 percent tax rate will be reduced to 30 percent and a new top marginal tax rate of 45 percent will be created for those earning more than $200,000.
It means that anyone making between $45,000 and $200,000 pays the same marginal tax rate. Voters on $60,000 qualify for a $375 tax break, while those earning more than $200,000 qualify for $9,075.
After the lift was completed, Mr. Portelli, who is worth an estimated $350 million, posted photos 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 possible,” he wrote.
Melbourne real estate developer Adrian Portelli’s daring stunt of towing a $2 million race car into his 57th-floor luxury apartment has sparked outrage
Greens leader Adam Bandt expressed outrage at Portelli’s flashy display of wealth
The 34-year-old purchased the luxury penthouse last month in a sale that broke the record for the city’s most expensive apartment when it handed over a whopping $39 million.
However, Mr. Portelli stated that he only wants to use it as a ‘weekender’.
The businessman, known as ‘Mr Lambo’ for his love of sports cars, told realestate.com.au that he decided to buy the apartment the same day he saw it because of ‘the security’ and the fact that it was a ‘blank canvas’ used to be.
He also admitted that a selling point was the penthouse’s direct connection to the second tower, which will house a five-star Shangri-La hotel.
Mr Portelli made headlines last year for driving up the price of Omar and Oz’s house during The Block’s finale.
He opened the bid at $4.5 million – well above the $4.08 million reserve – and his aggressive style meant eventual buyer Danny Wallis ended up paying an eye-watering $5,666,666.66 for the five-family Gisborne estate. bedrooms and 4 acres.
In a post-auction private sale, he instead paid $4.25 million for the home of Sharon Johal and Ankur Dogra.
In addition to real estate investments, Mr. Portelli also runs his own promotion and giveaway business, focusing on luxury vehicles and prestigious homes.
He has founded a charity, The Little Legends Foundation, which provides emergency medical care and experiences for vulnerable children.
Phase three tax cuts
The phase three cuts will go into effect in fiscal year 2024-25 and will see the 37 percent marginal tax bracket abolished while the 32.5 percent tax rate is reduced to 30 percent for all individuals earning between $45,000 and $200,000 .
A new 45 percent marginal tax rate would apply to those earning more than $200,000.
Below, Daily Mail Australia has compiled a list of how much residents get back based on their salary:
Annual salary Tax reduction