South African IT billionaire Zak Calisto, founder and CEO of Karooooo Limited, has seen his wealth skyrocket in recent days, thanks to a huge increase in the share price of the Singapore-based mobility platform. Calisto’s investment in Karooooo has increased by $175.62 million in the last eleven days, bringing the total value of his shares to more than $840 million.
This recent gain followed a significant $93.14-million increase between June 27 and July 9, when Calisto’s stake in Karooooo increased from $648.73 to $741.87 million. The ongoing pace has been ascribed to increased buying interest in Karooooo, a firm known for its unique approach to mobility solutions on a worldwide scale.
Karooooo was founded in 2001 as a car recovery business in South Africa and has now grown to become a prominent worldwide mobility platform with over 2 million active users in 23 countries. The company’s shares are traded on both the Nasdaq and the Johannesburg Stock Exchange, confirming its reputation as a prominent player in the mobility sector.
Karooooo’s Nasdaq share price has risen 26.32 percent in the last 11 days, from $28.80 on July 25 to $36.38. This surge has increased the company’s market valuation beyond $1.1 billion, resulting in significant returns for investors, including Calisto.
Zak Calisto, who owns 74.73 percent of Karooooo, or 23,168,811 shares, has reaped significant benefits from the company’s recent market performance. The market worth of his shares has climbed from $667.26 million on July 25 to $843 million as of this report, representing a $175.62 million increase in just 11 days.
Karooooo’s stock has risen 49 percent since the beginning of 2024, making it a notable performer this year. An investment of $100,000 at the start of the year would now be worth $149,710, resulting in a profit of $49.710.
The company’s excellent performance demonstrates its market leadership and implies possibilities for additional expansion, so investors should pay close attention.
