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.
South African tech mogul Zak Calisto faces wealth decline amid Karooooo share drop.
Total revenue climbed 7 percent to R2.19 billion ($124.2 million) from R2.04 billion ($115.7 million) a year earlier.
Calisto’s net worth has surged significantly, driven by a sharp rise in the market value of his shares in Karooooo.
South African tech mogul Zak Calisto's fortune surges by $65 million amid Karooooo's market rally
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.
Zak Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company
Under Calisto’s leadership, the company has become a leading provider of intelligent transportation management and analytics.
Despite the decrease in his stake in Karooooo, Calisto remains one of Africa’s top tech entrepreneurs.
Calisto, who holds a 74.7-percent stake in Karooooo worth more than $640 million, ranks as one of Africa’s leading tech entrepreneurs.