Adrian Portelli relocates to Dubai, citing Australian tax and leadership concerns

Australian billionaire Adrian Portelli, founder of LMCT+, has relocated to Dubai, citing dissatisfaction with Australia’s political leadership and taxation regime. Portelli, whose net worth is estimated at $1.41 billion, described the current state of the country under its government and media as a “brainwashing circus.”

He noted that the move was planned for three years and was initially intended to be based in Italy. Portelli highlighted the benefits of Dubai, including its tax-free status, safety, and high-quality education for his children. He criticized the Australian taxation system, questioning the value received in return for taxes paid.

Despite the relocation, Portelli stated he does not hate Australia and noted it would be “virtually impossible” to leave the country permanently due to his extensive personal and business ties. He expressed a belief that Australia has the foundation to return to being one of the best countries in the world.