Table of Contents
Key Points
- Zak Calisto’s Karooooo stake surged to $1.17 billion after a recent Nasdaq rally, adding $115 million to his net worth.
- Karooooo’s SaaS platform serves 2.6 million users across 23 countries, expanding beyond vehicle recovery to advanced fleet management.
- Karooooo’s 2025 revenue grew 8.6% to $249.87 million, driven by a 15% subscription increase, boosting investor confidence.
Just days after being named Africa’s 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 Africa’s 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 continent’s billionaire ranks.
A company that grew beyond car recovery
When 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, Karooooo’s shares have risen 10.67 percent, climbing from $52.86 on May 23 to $58.5. This jump pushed the company’s market value past $1.7 billion, rewarding long-term investors and attracting new attention from the wider mobility technology sector.
The recent surge comes as demand grows for Karooooo’s expanded services, like AI-driven driver monitoring and advanced fleet management tools. With more customers signing up and the company continuing to expand internationally, Karooooo’s stock has gained momentum, and Calisto’s personal fortune has benefited along with it.
A strong year for Calisto, and investors
The latest stock surge alone added $112 million to Calisto’s holdings, up from $1.06 billion to $1.17 billion. It's another milestone that highlights both his business acumen and his rising influence among Nasdaq-listed tech entrepreneurs.
Year-to-date, Karooooo’s stock is up nearly 30 percent: a $100,000 investment in the company at the beginning of 2025 would now be worth just under $130,000. Investors are backing more than just a stock, they’re backing a model. Karooooo’s subscriber growth and profit have made it a standout in the crowded SaaS space, especially among firms expanding in emerging markets.
Karooooo posts strong revenue growth
For the year ending Feb. 28, 2025, Karooooo reported revenue of R4.57 billion ($249.87 million), marking an 8.6 percent increase compared to the previous year. Most of this growth came from subscription revenue, which climbed 15 percent to R4.06 billion ($221.82 million), largely driven by Cartrack, the company’s main product.
These strong results have given investors confidence that the business can keep expanding while maintaining healthy profits. For Zak Calisto, it’s a clear sign that his long-term investment in mobility technology continues to deliver.
