As the founder and largest shareholder, White holds considerable power within WiseTech, complicating the board's response to the allegations.

In late 2020, a woman threatened to report damaging allegations about White's relationship with her and his alleged misuse of company funds for her benefit.

WiseTech Global, Australia's largest listed technology company, experienced a dramatic plunge in its share price, dropping nearly 20% on a recent Monday morning amid serious allegations against its CEO, Richard White.

The fallout from these personal controversies surrounding White has raised significant investor fears regarding his leadership of the $36 billion company.

White provided the WiseTech board with a declaration denying the allegations, which were later assessed by directors as an extortion attempt.

The WiseTech board is under pressure to address the situation and has stated it is reviewing the allegations while seeking external advice.

An investigation revealed serious allegations against White from a former partner, which led to a multimillion-dollar settlement in March 2021.

A joint investigation by several major Australian publications uncovered multiple claims of inappropriate behavior by White, including suggestive communications with female entrepreneurs.

While the allegations are personal, their implications for WiseTech's shareholders and overall reputation are substantial.

The significant drop in WiseTech's share price highlights White's crucial role in the company, a phenomenon referred to as 'key man risk'.

In response to the media scrutiny, WiseTech Global announced a review concerning White, acknowledging the potential impacts on the company's reputation.

Since the beginning of October 2023, WiseTech's shares have declined over 11%, reflecting the increasing media scrutiny of White's private life.