Adrian Portelli puts $15m Block houses up for raffle within 24 hours of buying

Billionaire Adrian Portelli paid $15.03 million to buy every single house on The Block, but less than 24 hours after the finale was aired, the entire compound was put up for raffle to giveaway.

It was the most lucrative auction in the series’ 20-season history, thanks to Portelli, who told Domain on the weekend he “wanted to go out with a bang” and blow every other bidder out of the water.

But by Monday, 35-year-old Portelli announced he would raffle the whole Phillip Island gated resort, which includes the five houses and all their furniture, the boat, plus all the shared amenities like the pool, spa, theatre, tennis court, barbecue area and games room.

Taking to Instagram, the AFR Young Richlister and entrepreneur announced a “world first” that he would raffle the entire resort in an LMCT+ giveaway, a promotions platform he founded.

The winner will get to choose between owning the whole resort or $8 million in tax-free cash – more than $7 million less than what he paid for the properties on the weekend.

His Instagram post says: “As mayor of Portelli town, I would like to announce a world first. LET’S GIVE AWAY A FKN RESORT!!!

“Let the games begin.”

He shocked contestants and viewers on the weekend when he announced he would not return to The Block as a buyer next year because he had “overstayed his welcome” but was thrilled to have been able to crown the winners, Maddy and Charlotte.

“They deserve it. I think they just had a hard time throughout the show,” he says.

Maddy was one of the first to comment on Adrian’s post, writing: “You’ve changed our lives forever and now you’re going to change some else’s too.”

How much money has Adrian Portelli spent on Block houses?

Portelli has been a familiar face on The Block only since the 2022 auctions in Gisborne when he arrived as a mystery buyer in a yellow Lamborghini, but he quickly made himself known as a massive hitter.

That year, he picked up one house for $4.25 million, and last year, he bought three Hampton East properties for a total of $12.4 million, including Steph and Gian’s winning property, which still holds the record for the most profitable win in The Block history.

In just three years, Portelli has spent a jaw-dropping $31.68 million on The Block houses.

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