Zak Calistos Karooooo stake surged to 1.17 billion after a recent Nasdaq rally, adding 115 million to his net worth.
Karooooos SaaS platform serves 2.6 million users across 23 countries, expanding beyond vehicle recovery to advanced fleet management.
Karooooos 2025 revenue grew 8.6 to 249.87 million, driven by a 15 subscription increase, boosting investor confidence.
Just days after being named Africas newest billionaire by Bloomberg , South African tech entrepreneur Zak Calisto has seen his fortune grow even further. Thanks to a recent rally in shares of Karooooo, the Nasdaq-listed mobility Software-as-a-Service SaaS company he founded, Calisto has added another 115 million to his net worth.
Calisto, who launched the business back in 2001 and still holds a 64.81 percent stake, owns more than 20 million shares in Karooooo. The recent gains pushed the value of his holdings to over 1.17 billion, reinforcing his standing as one of South Africas most prominent tech leaders.
This fresh boost follows a sharp climb between April 23 and May 13, when his stake jumped from 833.6 million to 1.09 billion , a 257.6 million gain that led Bloomberg to officially recognize him on May 22 as a new entrant to the continents billionaire ranks.
A company that grew beyond car recoveryWhen Calisto started the company, then known as Cartrack, the mission was simple: help recover stolen vehicles. But over time, the business evolved. Now called Karooooo, it serves more than 2.6 million users across 23 countries. Its platform provides real-time tools that help businesses monitor fleets, improve logistics, and make smarter decisions based on data.
In just the past two weeks, Karooooos shares have risen 10.67 percent, climbing from 52.86 on May 23 to 58.5. This jump pushed the companys market value past 1.7 billion, rewarding long-term investors and attracting new attention from the wider mobility technology sector.