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Karooooo founder Zak Calisto's direct stake is worth about $1.05 billion after record subscriber additions lifted the vehicle-tracking group's value to $1.81 billion.
Zak Calisto's Cartrack is under scrutiny after 29-year-old employee Gcina Dhladhla died at its Rosebank head office on June 6, prompting calls for a Labour Department investigation.
Cartrack, the vehicle tracking company founded by billionaire Zak Calisto, has agreed to pay a R5 million fine and refund over R5.1 million to customers.
Cartrack has crossed two million active subscribers in South Africa, a milestone for billionaire Zak Calisto's global tracking giant.
South Africa's Competition Commission has backed Zak Calisto's bid to take joint control of King Price Insurance without conditions.