WTC ASX: Billionaire Richard White's WiseTech share sales to pay ...

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.

Max Mason covers insolvency, courts, regulation, 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 [email protected]

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 [email protected]

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