It is not all too uncommon for a chief executive officer to be invested in the company they are running. However, there are not all too many CEOs of ASX-listed companies that can say they are a multi-billionaire from that investment. Well, WiseTech Global Ltd (ASX: WTC) CEO Richard White can shout it from the rooftops, as he takes out the top spot on The AFR’s Rich Bosses list this year.
At the time of writing, the WiseTech share price is trading 0.66% higher to $30.55. The cloud-based logistics company is accompanied by a $9.86 billion market capitalisation.
Let’s take a closer look at the details of Mr White’s riches and how WiseTech has delivered plentiful returns for its shareholders.
ASX-listed WiseTech the logistical wealth creator
According to the publication, White’s stake in WiseTech amounted to $4.23 billion at the end of the financial year. The far majority of this being the roughly 125.8 million shares held by Realwise Holdings Pty Ltd, which is another company owned by the CEO.
It has been a long road for the former muso turned tech tycoon. WiseTech was originally founded by White in 1994, after recognising inefficiencies within the logistics industry. It wasn’t until after the company was listed on the ASX in 2016 that he cracked his first billion.
Since then, Richard White has gone on to lead the company through an enormous period of growth. Revenue has grown from $102.8 million in 2016 to $462.2 million, an increase of 4.5 times. Meanwhile, earnings have soared from $2.17 million to $145.3 million.
The meteoric growth has been on the back of increased demand for the company’s CargoWise service, in addition to multiple acquisitions.
As a result, the Wisetech share price has ascended 664% over its five short years of being publicly traded. Undoubtedly creating immense wealth for shareholders in the process.
The post WiseTech (ASX:WTC) CEO tops rich bosses list 5 years on from listing appeared first on The Motley Fool Australia.
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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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