South African tech tycoon Zak Calisto’s Karooooo stake tops $1 billion

Key Points

• Zak Calisto’s stake in Karooooo tops $1 billion after a 31% share price surge in 25 days, driven by strong subscription growth.
• Karooooo’s revenue rose 8.6% to $249.87 million, fueled by its Cartrack unit serving 2.2 million users across 25 countries.
• Karooooo’s stock is up 20.7% in 2025, rewarding investors with gains amid growing confidence in mobility tech expansion.

South African tech entrepreneur Zak Calisto has seen the value of his stake in Karooooo cross the $1 billion mark, thanks to a strong rally in the Nasdaq-listed company’s stock. Investors have been responding positively to the firm’s recent earnings and steady growth, in its core subscription business.

Stake jumps $257 million in just 25 days

Calisto, who founded Karooooo and serves as its CEO, owns a controlling 64.81 percent of the company, roughly 20 million shares. In just the past 25 days, the value of his stake has jumped by $257.57 million, driven by a sharp rise in Karooooo’s share price.

That gain comes on top of an earlier $71.5 million increase between April 8 and 23, when his holding climbed from $739.06 million to $810.57 million. The back-to-back increases have not only lifted his personal fortune but also reaffirmed his place among South Africa’s most prominent tech founders.

From modest beginnings to a global platform

Karooooo started in 2001 as a small vehicle recovery business in South Africa. Over the years, it has grown into a major player in global mobility and fleet management.

Its main operating unit, Cartrack, now supports more than 2.2 million users across 25 countries, providing services such as real-time vehicle tracking, fleet operations, and insurance telematics.

For the fiscal year ending Feb. 28, 2025, the company reported an 8.61 percent rise in revenue, bringing in $249.87 million. This growth was mainly driven by an increase in Cartrack’s subscription base, reflecting strong demand for its software across several markets.

Shares surge nearly 31 percent

In the past 25 days, Karooooo’s share price has climbed 30.9 percent—from $41.62 on April 23 to $54.48. This surge has pushed the company’s market capitalization to more than $1.69 billion, delivering solid returns to shareholders, none more so than Calisto.

Thanks to the rally, the value of his stake has increased from $833.6 million to $1.09 billion. The recent gains highlight not just his business success, but also the growing confidence investors have in the company’s long-term outlook.

A good year for investors

Karooooo’s stock is up 20.66 percent so far this year. For investors, that means a $100,000 investment on January 1 would now be worth around $120,660. The performance signals renewed confidence in mobility tech companies, especially those expanding in emerging markets.