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Gozitan-Australian Millionaire Adrian Portelli: The 7th Richest Young Man in Australia

Gozitan-Australian Millionaire Adrian Portelli: The 7th Richest Young Man in Australia
Oct 27 2023 Share

Gozitan-Australian millionaire Adrian Portelli is making headlines once again, this time for securing the 7th spot on the list of the richest young men in Australia, as reported by the 2023 Financial Review’s “The 10 Richest Young Australians.” With a staggering wealth of $1.3 billion, Portelli’s journey from a reality TV star to a prominent property investor and online promo guru is nothing short of remarkable.

Gozitan-Australian Millionaire Adrian Portelli: The 7th Richest Young Man in Australia

Portelli first burst into the public eye when he made waves by purchasing the most expensive apartment in Melbourne, a lavish residence valued at a staggering $39 million.

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In response to the announcement of his newfound status as the 7th richest young man in Australia, Portelli took to his social media platforms to share his excitement and reflect on his journey. He expressed his gratitude and astonishment, stating, “I was always a dreamer, but I never dreamt I’d be a billionaire and 7th on the Young Rich List!” Portelli’s message was not just a celebration of his success but also an inspiration to others who may be facing challenges on their own path to success.

In his candid post, Portelli acknowledged the hardships and sacrifices he endured to reach this point. He revealed that his journey was marked by a decade of hard work, perseverance, and determination.

Portelli shared that he had faced moments of despair and uncertainty, recounting times when he was alone, working tirelessly across the globe, and struggling to make ends meet. His words serve as a reminder that success often comes after enduring the most challenging of circumstances. Portelli’s story is a source of motivation and encouragement for those who may be encountering their own setbacks and difficulties.

 

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In addition to his business ventures, Portelli is known for his philanthropic work. He runs a foundation that supports sick children, showing that he is not only dedicated to his own success but also to giving back to the community. His commitment to making a positive impact on the world sets a commendable example for other successful entrepreneurs.

Recently, Portelli embarked on a European road trip with his prestigious hypercar, the McLaren P1. During this adventure, he had the opportunity to visit Malta and Gozo, reconnecting with his Gozitan heritage and meeting family members he hadn’t seen in years. This journey underscores the importance of staying connected to one’s roots and heritage, no matter how far success may take you.

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Malta To Increase Minimum Wage Annually for Four Years

Oct 27 2023 Share

In a move aimed at uplifting the lives of workers and fulfilling an electoral promise, the Maltese government has sealed an agreement to incrementally raise the minimum wage every year for the next four years.

This significant development is in addition to the annual adjustments provided through the Cost of Living Allowance (COLA).

The journey toward agreement began earlier this year when the government established the Low Wage Commission, which brought together representatives from both the government and social partners to collectively devise a strategy for increasing the National Minimum Wage.

Starting from January 2024, the National Minimum Wage will experience a steady increase over the next four years. This increase is separate from the regular COLA adjustments.

The current minimum wage, which stands at €192.73 per week.

By January 2024, this rate will rise to €213.54 per week. In essence, anyone currently earning between €192.73 and €198.73 per week will witness an increase of €2 to €8 per week, in addition to the statutory COLA for 2024. Those with salaries exceeding €198.73 but not reaching €200.73 per week will receive the difference, coupled with the COLA applicable for 2024.

For workers aged eighteen and above, the minimum wage progression in the coming years will look like this:

2024: € 200.73 + COLA 2024

2025: € 203.73 + COLA 2024 and COLA 2025

2026: € 206.73 + COLA 2024, COLA 2025, and COLA 2026

2027: € 210.73 + COLA 2024, COLA 2025, COLA 2026, and COLA 2027

This means that between 2024 and 2027, the National Minimum Wage will surge by €12 to €18 per week, in addition to the mandatory COLA increments.

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Bullitt Hits An Unexpected Target

Oct 26 2023 Share

At 2100 CEST on Wednesday, 25 October, the winner of the 44th edition of the Rolex Middle Sea Race was announced as the Italian Wally 93 Bullitt, skippered by Andrea Recordati.

The announcement was made shortly after the double-handed entry Red Ruby crossed the finish line at 20.51.35, 24 seconds outside the time required to move into first place.

The Royal Malta Yacht Club has confirmed that none of the remaining yachts still racing is able to better Bullitt’s corrected time.

“When I came into the Rolex Middle Sea Race my dream was to win class,” said Recordati, on being informed by the Race Director. “That would have been a fantastic result in itself against boats more adapted to this type of offshore race.”

“Coming first overall in corrected time, honestly, I am still having difficulty believing it. I am ecstatic. I am super happy for the boat, she deserves it. We put a lot of effort in to optimise and improve her. I am especially happy for my crew. I have an exceptional team and they really deserve this too.”

The 2023 Rolex Middle Sea Race record will show that Andrea Recordati’s Wally 93 Bullitt put in a phenomenal performance around the 606nm racetrack, taking the fight to monohull line honours winner Leopard 3 on the water, while staving off a concerted fleet-wide challenge on corrected time. As one of five maxis over 24 metres (80 feet) in length, in the 10 boat IRC 1 class, Bullitt was expected to have its hands full, as it fought to be first to finish at the same time as aspiring to a class win. The eventual elapsed time duel with Leopard may well be one of several reasons behind the Italian maxi’s overall win on time correction. The historical facts are only half the story.

The Little Engine That Could is an American folktale used to teach children the value of optimism and hard work. If ever there was a yacht that matched the tenet of that story, it would be Red Ruby sailed double-handed by the wife and husband team of Christina and Justin Wolfe from the United States. The Sun Fast 3300 came close to one of the biggest ever upsets in offshore yachting at the 44th Rolex Middle Sea Race. At first light on Thursday morning (25 October), Red Ruby appeared stuck in an orbit of Lampedusa, 110 nautical miles from the finish. From what looked, onshore at least, a wholly unpromising position, determination, belief and skill drove the American boat to within 24 seconds of a sensational overall win on time correction.

The situation was well and truly in the balance for a prolonged period of nail-biting tension for most of yesterday. When the Race Director finally telephoned at 9 p.m. to confirm Bullitt as the winner of the 44th edition of the Rolex Middle Sea Race, Recordati could hardly believe it. “When I came into the Rolex Middle Sea Race my dream was to win class,” he said. “That would have been a fantastic result against boats more adapted to this type of offshore race. Coming first overall in corrected time, honestly … I am ecstatic, almost speechless. I am super happy for the boat, she deserves it. I am especially happy for my crew. I have an exceptional team and they really deserve this too.” Recordati had enjoyed the early boat for boat rivalry with Leopard, even if he lost out in the end.

Bullitt’s 20 person crew was a who’s who from the America’s Cup, round the world racing and maxi yacht scene: Andrea Recordati, Bozidar Matkovic, Guillermo Altadill, Joca Signorini, Luigi Filippo Orsi Magngelli Alvera, Luke Molloy, Maciej Malag, Marc Lagesse, Martin Strömberg, Mate Ivic, Matthew Joubert, Michael Pammenter, Miguel Jauregui, Peter Van Niekierk, Phil Jameson, Richard Bouzaid, Richard Fryer, Tai Vinnie, Vinicio Vanossi.

The Wolfes reside in the Pacific Northwest of the United States. Meeting at local double handed race in 1995, the pair have been together since. They attribute the success of their partnership to having similar strengths allowing the switching of roles frequently while racing with no concerns. “We very much prefer double-handed racing because of the challenge. Plus, we enjoy sailing with each other,” she continued. “To be successful at double-handing, it is important to know your teammate’s abilities and trust them.”

Turning to the race, it was not clearcut that Red Ruby would be contesting honours in class let alone overall. From the get-go, Red Ruby was up against it, but never once gave up. At the start, the wind changed direction and then disappeared, leaving their start stuck on the line and forcing the Race Committee to postpone the next start. In the mêlée that followed, Red Ruby’s head sail pre-feeder jammed. An issue that took most of the leg to Messina to resolve. Little by little they got themselves into a groove, and realised they were in the game.

While the weather models between Lampedusa and Malta suggested Red Ruby had no hope to beat Bullitt, the Wolfes were untroubled. They had wind. They had belief. They had hope. And, in any event, none of the models had got the forecast completely right all race.

However, it really was not until they were approaching Malta that the Red Ruby team appreciated, they were within touching distance of victory.

The problems, though, seem never ending and exhausting. Even the final dash to the finish was pressured. “We could not see the fairway buoy. We knew where it was on the chart, but we still nearly ran into it. Then we had a ferry coming in at 30 knots that we had to avoid.”

In the end, Red Ruby fell agonisingly short. “Over the course of a 600 mile race how many places did you leave 24 seconds. All over the place. One better tack, one better call on the current in the Messina Strait. We don’t even know what happened on the west coast of Stromboli. Even the start did not go so well. How many thousands of seconds did it take us to cross the line?”

Impressively, the pair from the Pacific Northwest of the United States were able to see the result with some perspective. “The Rolex Middle Sea Race was on our bucket list. This was a once in a lifetime opportunity to be here. It is like nothing we have ever done before and has certainly lived up to the hype and surpassed our hope. The challenge of the race and the beauty of the race is definitely unique. It is not like just going out and sailing a race, it has its own aspects that are appealing, and it has to be one of the best in the world.”

Red Ruby’s adventure has given the boat a firm place in the pantheon of legend surrounding the Rolex middle Sea race. If they need encouragement repeat the journey, there is a lesson from history that might help. In the 2015 race, Mascalzone Latino lost out by nine seconds. The following year, 2016, the Italian yacht returned and won.

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Get Ready to Conquer Spartan Malta 2024: Registrations Now Open!

Get Ready to Conquer Spartan Malta 2024: Registrations Now Open!
Oct 26 2023 Share

Attention all Spartans and fitness enthusiasts! It’s time to mark your calendars and lace up your shoes because Spartan Malta 2024 registrations are officially open! This event promises an adrenaline-fuelled weekend, packed with challenges that will test your strength, stamina, and determination like never before.

 

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Scheduled for the 19th and 20th of October 2024, Spartan Malta Trifecta Weekend is set to be an epic experience. On Saturday, get ready to tackle the Beast, Spring, and SpartanKids races, designed to push your limits and ignite your competitive spirit. Then, on Sunday, gear up for the Super and Sprint competitions, where speed and agility will be your greatest allies.

But that’s not all—this event is not just about the thrill of the race, it’s about camaraderie, resilience, and the sheer joy of pushing boundaries. Whether you’re a seasoned Spartan veteran or a first-time participant, there’s a race category suited just for you.

To sweeten the deal, early bird registration prices are available until November 20th, 2023. Don’t miss your chance to secure your spot at a discounted rate! Act fast and register now to embark on a journey that will challenge your body and mind, leaving you with unforgettable memories and a sense of accomplishment that lasts a lifetime.

Get ready to unleash your inner Spartan. Register for Spartan Malta 2024 today and join us in making this event the most epic and unforgettable Trifecta Weekend yet!

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