Zak Calisto’s Karooooo stake gains $71.5 million in 15 days

Key Points

• Zak Calisto’s stake in Karooooo rose by $71.5 million in two weeks, driven by a 9.67% surge in the company’s Nasdaq-listed shares.
• Calisto owns a 64.81% stake—roughly 20 million shares—in Karooooo, a global SaaS mobility firm founded in South Africa in 2001.
• Despite a 10.37% year-to-date stock decline, Karooooo remains a dominant player in fleet management and telematics, serving 2.2 million users globally.

South African tech entrepreneur Zak Calisto has experienced a strong rebound in his fortune, thanks to a sharp rise in the shares of Karooooo Ltd., the Nasdaq-listed global mobility service provider.

Calisto holds a 64.81 percent stake in the firm—about 20 million shares—and over the past two weeks, the value of his holding has climbed by $71.5 million. The rally comes as investor confidence returns to the Software-as-a-Service (SaaS) company, which specializes in mobility solutions.

The recent gains come after a rough patch earlier this month, when global market jitters knocked $87.9 million off the value of Calisto’s stake, sending it from $891.88 million down to $803.96 million between Mar. 25 and Apr. 5. Now, the upswing is helping him recoup a significant part of those losses.

Karooooo stock jumps 9.67%

Karooooo was launched in 2001 as a modest vehicle recovery business in South Africa. Since then, it has grown into a global player in mobility software. Its main unit, Cartrack, now serves more than 2.2 million users across 25 countries, offering real-time fleet management, vehicle tracking, and insurance telematics.

In the past two weeks, the company’s stock on the Nasdaq has climbed 9.67 percent, lifting its market value to over $1.25 billion. That surge has brought strong returns to shareholders—especially founder and CEO Zak Calisto. Karooooo’s share price jumped from $36.9 on Apr. 8 to $40.47 at the time of writing.

Thanks to the rally, the value of Calisto’s stake has increased by $71.5 million, rising from $739.06 million to $810.57 million. The gain not only strengthens his standing as one of the top South African entrepreneurs but also reinforces his influence among investors on the Nasdaq.

Your money and your life

Karooooo’s stock has fallen by 10.37 percent so far this year, reflecting a wave of investor caution toward mobility tech firms in emerging markets. A $100,000 investment in the company at the start of the year would be worth around $89,630 at the time of drafting this report.

Even with the recent slump, Karooooo is still seen as a major player in global fleet management and telematics. But the dip in its share price underscores lingering concerns about the broader economic climate and questions around how the company plans to sustain its growth over time.