South African tech tycoon Zak Calisto has once again recorded a significant increase in his stake in Karoooo Limited, adding to the gains he enjoyed in 2023. The uptick in his stake is linked to the sustained surge in the shares of the global mobility firm on the Nasdaq Stock Exchange.
According to data tracked by Billionaires.Africa, the market value of Calisto’s stake in Karoooooo has increased by $17.14 million over the past three weeks, primarily due to the sustained buying interest in the leading global mobility company.
This recent increase comes shortly after a notable $30.12-million surge from Nov. 7 to 30. During that period, the market value of Calisto’s stake in Karoooo Limited jumped impressively from $522.58 million to $582.69 million.
Karooooo shares surge by single digit, pushing market cap above $750 million
Karooooo, founded in 2001, initially started as a stolen car recovery services provider in South Africa but has since transformed into a leading mobility platform. The company’s shares are dual-listed on the Nasdaq Stock Exchange and the Johannesburg Stock Exchange.
Since the start of the year, Karooooo shares have increased by 3.05 percent — rising from $24.3 to $25.04 at the time of writing. This surge has propelled the company’s market capitalization above $750 million, delivering substantial gains to shareholders, including Calisto.
Zak Calisto’s stake in Karooooo surges above $580 million
With a stake of 74.7 percent in Karooooo, valued at more than $580 million, Calisto stands among Africa’s top tech entrepreneurs. Leading Karooooo, he has turned it into a global provider of smart transportation solutions.
Thanks to the recent surge in the company’s shares, the market value of Calisto’s stake in the company has increased by $17.14 million over the past three weeks, rising from $563.00 million on Jan. 1 to $580.15 million at the time of writing this report.
This surge reinforces Calisto’s standing as a key figure in South Africa’s tech scene. His business prowess and forward-thinking leadership will continue to shape Karooooo’s path, solidifying its role as a premier intelligent transportation solutions provider.