
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.
The latest increase extends the market value of his stake to nearly $950 million.
Karooooo shares surge adding millions to South African tech mogul's wealth
This follows a $107.76 million decline recorded between Oct. 14 and Nov. 6, pushing his stake further below the $1 billion mark.
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
Year-to-date, Karooooo shares are up 48.27%, offering substantial returns to shareholders, exemplifying robust market performance.
Despite this setback, Calisto remains one of Africa’s leading tech entrepreneurs, underscoring Karooooo’s continued prominence in smart transportation management.