Billionaire chairman of WiseTech quits after allegations he exploited womans immigration status for sex
Richard White, the embattled co-founder and executive chairman of Australian software giant WiseTech Global, is stepping down after allegations emerged that the billionaire businessman exploited a woman’s immigration status and financial insecurity for sex. Shares of WiseTech – which offers software that companies can use to manage and streamline logistics – soared by as much as 10.6% on the news, reaching nearly $27 USD per share. The Australian Federal Police’s human exploitation task force launched an investigation into White earlier this year, per a report in the Australian Financial Review, after a complaint from a former executive from another company White controls – customer management registry Kyckr.White on Tuesday again denied the allegations, adding that the claims have become an unnecessary distraction for the company.“Recent personal media attention is creating an unnecessary distraction from the strength of WiseTech’s business,” White said, adding that he “strenuously and unequivocally” denies recent media allegations.Media reports last year said White allegedly pressured Caroline Heidemann, a Brazilian woman who once worked as a cleaner at WiseTech, into a sexual relationship by leveraging his power and influence.He also allegedly submitted false information as part of her visa application.
Heidemann raised similar allegations last year before reaching a settlement with White.The jump in share price comes after other conduct scandals involving White and threats by artificial intelligence have already collapsed the WiseTech’s worth.The Sydney-based tech firm was valued at more than $40 billion in July 2025 but less than $13 billion by Tuesday.White relinquished the CEO role in 2024 after weeks of separate revelations about his personal life – including multiple women alleging he bought them houses and invested in their businesses in exchange for sex.
A former female WiseTech director alleged that White engaged in “b...