South African tech mogul Zak Calisto’s wealth has seen a notable boost lately, thanks to the rise in the market value of his shares in Karooooo, a global mobility Software as a Service (SaaS) platform headquartered in Singapore.
According to data tracked by Billionaires.Africa, Calisto’s stake in Karooooo has surged by $55.6 million over the past nine days. This surge is mainly driven by the recent uptick in the share price of the leading global mobility company.
This gain marks a turnaround for Calisto after a setback from March 21 to April 2, when his Karooooo stake dropped by $34.52 million, falling from $609.57 million to $575.05 million.
Karooooo’s shares jump 9.91 percent
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.
The group’s share price on the Nasdaq Stock Exchange has increased by 9.91 percent in recent times rising from $24.21 on April 3 to $26.61 at the time of drafting this report. This surge has boosted the company’s market capitalization to $827 million.
Calisto’s Karooooo stake hits $616.5 million
With a 74.7-percent stake worth more than $580 million in Karooooo, Calisto ranks as one of Africa’s leading tech entrepreneurs. Under his guidance, Karooooo has become a global leader in smart transportation solutions.
The recent surge in Karooooo’s share price since April 3 has bolstered Calisto’s stake by $55.6 million, with the market value of his stake in the group rising from $560.92 million on April 3 to $616.52 million at the time of drafting this report.
This surge highlights Calisto’s influence in South Africa’s tech sector, underscoring his role in shaping Karooooo’s path forward as a top provider of intelligent transportation solutions.