Zak Calisto's Karooooo Stake Gains 71.5 Million In 15 Days

Zak Calistos stake in Karooooo rose by 71.5 million in two weeks, driven by a 9.67 surge in the companys Nasdaq-listed shares.

Calisto owns a 64.81 stakeroughly 20 million sharesin 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 firmabout 20 million sharesand 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 Calistos 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 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 companys 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 shareholdersespecially founder and CEO Zak Calisto. Karooooos share price jumped from 36.9 on Apr. 8 to 40.47 at the time of writing.