CANBERRA, Oct 22 — Australian billionaire Richard White has seen the shares of his shipping software company drop by 15 per cent, and wiping an estimate US$2.9 billion (RM12.53 billion) of his fortune after allegations of impropriety with an ex-lover surfaced.

According to Bloomberg, WiseTech Global Ltd, which White founded and is currently the CEO of, announced that its board is reviewing "the full range of matters” after multiple press reports of White’s allegedly inappropriate behaviour.

White is said to have paid millions of dollars to an ex-lover to settle allegations she made in late 2020.

While White has provided a WiseTech board subcommittee a statutory declaration denying the allegations, further allegations of his impropriety have surfaced, including accusations he had pressured women into having sex with him in exchange for investing in his business.

One of those women, a wellness entrepreneur, who White has been attempting to push into bankruptcy has applied to have her bankruptcy notice set aside and in her affidavit claimed White expected sex in exchange for giving her business his investment.

The case is currently being tried in Australia’s Federal Court.

WiseTech, a company White cofounded with Maree Isaacs was valued at A$1 billion (RM2.89 billion) when it was first listed on the Australian Securities Exchange with a client list that boasts the majority of the world’s largest global logistic providers and freight forwarders includer Japan’s Nippon Express and DHL.