South African tech mogul Zak Calisto, the founder and CEO of Karooooo Limited, has seen his wealth soar in recent days, driven by a significant rally in the share price of the Singapore-based mobility platform. The market value of Calisto's stake in Karooooo has surged by $175.62 million over the past eleven days, pushing the value of his holdings to over $840 million.
This recent growth follows a notable $93.14-million increase between June 27 and July 9, when Calisto's stake in Karooooo jumped from $648.73 million to $741.87 million. The sustained momentum has been attributed to a growing buying interest in Karooooo, a company recognized for its innovative approach to mobility solutions on a global scale.
Karooooo's remarkable growth: Market cap exceeds $1.1 billionFounded in 2001 as a vehicle recovery service in South Africa, Karooooo has evolved into a leading global mobility platform, boasting over 2 million active users across 23 countries. The company's shares are traded on both the Nasdaq and the Johannesburg Stock Exchange, cementing its status as a major player in the mobility sector
Over the past 11 days, Karooooo shares on Nasdaq have appreciated by 26.32 percent, climbing from $28.80 on July 25 to $36.38. This surge has lifted the company's market capitalization above $1.1 billion, delivering substantial gains for investors, including Calisto.
