Key Factors
- Zak Calisto’s Karooooo stake surged to $1.17 billion after a latest Nasdaq rally, including $115 million to his web price.
- Karooooo’s SaaS platform serves 2.6 million customers throughout 23 international locations, increasing past automobile restoration to superior fleet administration.
- Karooooo’s 2025 income grew 8.6% to $249.87 million, pushed by a 15% subscription enhance, boosting investor confidence.
Simply days after being named Africa’s latest billionaire by Bloomberg, South African tech entrepreneur Zak Calisto has seen his fortune develop even additional. Because of a latest rally in shares of Karooooo, the Nasdaq-listed mobility Software program-as-a-Service (SaaS) firm he based, Calisto has added one other $115 million to his web price.
Calisto, who launched the enterprise again in 2001 and nonetheless holds a 64.81 p.c stake, owns greater than 20 million shares in Karooooo. The latest good points pushed the worth of his holdings to over $1.17 billion, reinforcing his standing as one in every of South Africa’s most distinguished tech leaders.
This recent increase follows a pointy climb between April 23 and Could 13, when his stake jumped from $833.6 million to $1.09 billion, a $257.6 million achieve that led Bloomberg to formally acknowledge him on Could 22 as a brand new entrant to the continent’s billionaire ranks.
An organization that grew past automotive restoration
When Calisto began the corporate, then generally known as Cartrack, the mission was easy: assist get well stolen autos. However over time, the enterprise advanced. Now known as Karooooo, it serves greater than 2.6 million customers throughout 23 international locations. Its platform supplies real-time instruments that assist companies monitor fleets, enhance logistics, and make smarter choices primarily based on knowledge.
In simply the previous two weeks, Karooooo’s shares have risen 10.67 p.c, climbing from $52.86 on Could 23 to $58.5. This soar pushed the corporate’s market worth previous $1.7 billion, rewarding long-term buyers and attracting new consideration from the broader mobility expertise sector.
The latest surge comes as demand grows for Karooooo’s expanded providers, like AI-driven driver monitoring and superior fleet administration instruments. With extra prospects signing up and the corporate persevering with to develop internationally, Karooooo’s inventory has gained momentum, and Calisto’s private fortune has benefited together with it.
A powerful yr for Calisto, and buyers
The newest inventory surge alone added $112 million to Calisto’s holdings, up from $1.06 billion to $1.17 billion. It is one other milestone that highlights each his enterprise acumen and his rising affect amongst Nasdaq-listed tech entrepreneurs.
Yr-to-date, Karooooo’s inventory is up almost 30 p.c: a $100,000 funding within the firm in the beginning of 2025 would now be price slightly below $130,000. Buyers are backing greater than only a inventory, they’re backing a mannequin. Karooooo’s subscriber progress and revenue have made it a standout within the crowded SaaS area, particularly amongst companies increasing in rising markets.
Karooooo posts sturdy income progress
For the yr ending Feb. 28, 2025, Karooooo reported revenue of R4.57 billion ($249.87 million), marking an 8.6 p.c enhance in comparison with the earlier yr. Most of this progress got here from subscription income, which climbed 15 p.c to R4.06 billion ($221.82 million), largely pushed by Cartrack, the corporate’s foremost product.
These sturdy outcomes have given buyers confidence that the enterprise can maintain increasing whereas sustaining wholesome income. For Zak Calisto, it’s a transparent signal that his long-term funding in mobility expertise continues to ship.
