
South African tech mogul Zak Calisto takes $180 million hit on Karooooo stake
The $809.2 million decline comes after a brief surge between Jan. 27 and Feb. 6, when his holdings gained $71 million before the downturn wiped out those gains.
The $809.2 million decline comes after a brief surge between Jan. 27 and Feb. 6, when his holdings gained $71 million before the downturn wiped out those gains.
It expects minimal impact on earnings and cash flow, as Mozambique contributes a small share of profits across 25 countries.
This gain comes after a late-January decline that had reduced his stake to $874 million.
South African tech mogul Zak Calisto faces wealth decline amid Karooooo share drop.
Total revenue climbed 7 percent to R2.19 billion ($124.2 million) from R2.04 billion ($115.7 million) a year earlier.
Calisto’s net worth has surged significantly, driven by a sharp rise in the market value of his shares in Karooooo.
South African tech mogul Zak Calisto's fortune surges by $65 million amid Karooooo's market rally
Zak Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company
Calisto, who holds a 74.7-percent stake in Karooooo worth more than $640 million, ranks as one of Africa’s leading tech entrepreneurs.
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.
With a market value of more than $600 million from his 74.73-percent shareholding in Karooooo, Calisto is one of Africa’s wealthiest technology entrepreneurs.
Calisto founded Karooooo in 2001.
Calisto is one of Africa’s richest tech entrepreneurs.
Calisto owns a majority stake in the global provider of smart transportation management and analytics.
Zak Calisto controls a 66-percent stake in Karooooo.