WiseTech Founder Richard White's $7 Million Mansion Gift to Christine Kontos Sparks Controversy

Richard White, the billionaire founder of WiseTech, faces scrutiny after gifting a luxury waterfront mansion worth $7 million to Christine Kontos, a product manager at the company with whom he had a long-term relationship. This has raised concerns among board members who are already grappling with a crisis at the software giant.

Kontos, a logistics expert, was brought into WiseTech by White in 2016, shortly after their relationship began. When their seven-year relationship ended in 2023, White transferred ownership of the four-storey mansion in Melbourne’s Docklands to her through a company controlled by his friends, according to a joint investigation by The Sydney Morning Herald, The Age, and The Australian Financial Review.

This marks the third multimillion-dollar property White, 69, has purchased for a woman with whom he was romantically involved, but it is the first involving a WiseTech employee. In a statement through his lawyers, White noted that he had disclosed his relationship with Kontos to the board in May 2017, before her hiring, but did not inform them of the house transfer, asserting it was a personal matter unrelated to WiseTech.

The board has not commented on whether they were aware of the property transfer or if they deemed it appropriate. A spokeswoman stated that the board is actively investigating various matters and carefully assessing all relevant factors. However, sources indicate that some directors were troubled by the revelation of the house transfer to Kontos.

WiseTech has a stringent code of conduct requiring employees to disclose personal relationships to HR to evaluate potential conflicts of interest. White maintains that Kontos was hired based on her qualifications, emphasizing that she did not report directly to him. Friends of Kontos claim she lived with White at his Bexley home in Sydney, and there were discussions of marriage, unaware of the complexities involving White’s other relationships.

The relationship ended dramatically in October 2022 when White’s now-wife, Zena Nasser, became involved, leading to the transfer of the Melbourne property to Kontos the following year. Documents reveal that a company associated with White, Caduceus Asset Managers, purchased the mansion in October 2021 for $6.91 million shortly after its registration.

Caduceus's directors include longtime friends of White, including his driver, Reg Kennedy, and Tony Jex, who played in a glam rock band with him in the 1970s. Recently, White became the sole director and shareholder of Caduceus.

The luxurious four-bedroom property boasts a custom chef’s kitchen, a whisky room, a rooftop spa, a gym, a private cinema, and a marina berth. Kontos has chosen not to comment on the situation.

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