Australian mining firm Mineral Resources investigates founder Chris Ellison for tax evasion; stock drops 12%.

Mineral Resources, an Australian mining firm, is investigating tax evasion allegations involving its billionaire founder, Chris Ellison. The board has hired external lawyers as the inquiry progresses. Following these revelations, the company's stock dropped 12%, losing $1.2 billion in value. Ellison reportedly profited from an offshore markup scheme. Despite the controversy, the board expressed confidence in his leadership, while Ellison has self-reported to tax authorities.