South African tech tycoon Zak Calisto has seen the market value of his stake in Singapore-based mobility platform Karooooo Limited increase by nearly $140 million in the past 31 days.
According to data tracked by Billionaires.Africa, the market value of Calisto’s stake in Karooooo has risen by $136.93 million, owing to the recent upswing in the company’s shares on the Nasdaq Stock Exchange.
Calisto founded Karooooo, a global mobility software-as-a-service (SaaS) platform, in 2001 with the primary aim of providing stolen car recovery services in South Africa. The company now offers a mobility SaaS platform for connected vehicles in South Africa, the rest of Africa, Europe, Asia-Pacific, the Middle East, and the United States.
With a market value of more than $600 million from his 74.73-percent shareholding in Karooooo, Calisto is one of Africa’s wealthiest technology entrepreneurs. Under his leadership, Karooooo has developed into an international provider of smart transportation management solutions.
In the past 31 days, Karooooo’s shares on the Nasdaq Stock Exchange have risen by 31.79 percent, rising from $18.59 to $24.50 at the time of drafting this report. This has resulted in significant gains for the company’s shareholders, including Calisto.
As a result of this double-digit percent surge in the company’s shares, the market value of Calisto’s stake has increased by $136.93 million, from $430.71 million on Oct. 3 to $567.64 million at the time of drafting this report.
Calisto’s increasing fortunes showcase the dynamic nature of the tech industry and the growth potential for innovative companies in the global mobility industry.
