Karooooo shares boost South African mogul Zak Calisto’s fortune by $398 million
Karooooo shares surge adding millions to South African tech mogul's wealth
Karooooo shares surge adding millions to South African tech mogul's wealth
This follows a $107.76 million decline recorded between Oct. 14 and Nov. 6, pushing his stake further below the $1 billion mark.
Year-to-date, Karooooo shares are up 48.27%, offering substantial returns to shareholders, exemplifying robust market performance.
Despite this setback, Calisto remains one of Africa’s leading tech entrepreneurs, underscoring Karooooo’s continued prominence in smart transportation management.
Under Calisto’s leadership, the company has become a leading provider of intelligent transportation management and analytics.
Calisto’s stake has increased by $25.49 million from $579.68 million on March 15 to $605.17 million at the time of drafting this report.
This rise comes on the heels of a significant setback, where Calisto experienced a $26.41-million loss between Feb. 12 and Feb. 23.
With a stake of 74.7 percent in Karooooo, valued at more than $580 million, Calisto stands among Africa’s top tech entrepreneurs.
This reaffirms his position as one of Africa’s wealthiest technology entrepreneurs — it also highlights Karooooo’s position as a top-performing tech firm.
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.
The recent surge in Calisto’s stake is noteworthy, considering he suffered a substantial loss of $18.71 million between Aug. 1 and 21.
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.
As a result of the recent surge in the company’s shares, the value of Calisto’s stake in Karooooo has increased from $543.7 million to $584.6 million.