Billionaire businessman Richard White has been selling hundreds of millions of dollars worth of shares in the software giant he founded to pay his ex-wife, contradicting earlier explanations for the sell-off.
Shares in WiseTech slumped almost 15 per cent on Monday, falling $17.83 to $104.65, wiping $6 billion from the company’s market value and an estimated $2 billion from Mr White’s personal wealth.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
Anne Hyland is the Financial Review’s Companies Editor. She’s a former deputy editor of Good Weekend and Asia correspondent for The AFR. Email Anne at ahyland@afr.com
