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Key Points
- Zak Calisto's wealth surged by $65.34 million in 13 days, driven by the rising value of his shares in Karooooo.
- Karooooo's stock price has risen nearly 8% on Nasdaq, pushing its market cap close to $1.2 billion.
- Year-to-date, Karooooo shares on Nasdaq have surged 57.4%, turning a $100,000 investment into $157,400.
South African tech mogul Zak Calisto has witnessed a significant surge in his fortune, with his wealth increasing by over $65 million in the past 13 days, driven by the rising market value of his shares in Karooooo, a leading global mobility service provider.
The company, headquartered in Singapore, has seen its stock price rise on both the Nasdaq and the Johannesburg Stock Exchange, pushing its market cap close to $1.2 billion.
According to data from Billionaires.Africa, Calisto’s stake in Karooooo has soared by $65.34 million during this period. This follows an impressive $175.62 million gain between July 25 and Aug. 5, when his stake in the company rose from $667.26 million to $843 million.
Karooooo’s market cap nears $1.2 billion
Karooooo, which began in 2001 as a vehicle recovery service in South Africa, has since evolved into a global mobility platform with over 2 million active users across 23 countries. Its shares on the Nasdaq have risen by nearly 8 percent over the past 13 days, from $35.47 on August 20 to $38.29, propelling its market cap closer to the $1.2 billion milestone.
Zak Calisto, who holds a majority 74.73-percent stake in Karooooo, equivalent to 23,168,811 shares, has played a key role in the company’s expansion in recent years. The recent rally in Karooooo shares has boosted the value of his stake by $65.34 million over the past 13 days, from $821.8 million on Aug. 20 to $887.13 million at the time of drafting this report.
Your Money and Your Life
Karooooo’s innovative approach to global mobility solutions has not only driven the company’s growth but also delivered substantial returns to its shareholders.
Year-to-date, Karooooo shares on Nasdaq have increased by 57.4 percent, providing significant gains for investors. A $100,000 investment in Karooooo at the beginning of 2024 would now be worth $157,400, reflecting a profit of $57,400.
