South Africa has officially welcomed a new member to its elite club of dollar billionaires. Zak Calisto, the innovative founder and CEO of Karooooo Limited, has crossed the $1 billion net worth threshold. His Ascent to Billionaire Status marks Not only a Personal Achievement But a Broader Milestone for “South Africa’s” Thriving tech And Telematics Industry.
Who Is Zak Calisto? South Africa’s Rising Tech Mogul
Zak Calisto is the visionary behind Karooooo, a global tech powerhouse in fleet management, stolen vehicle recovery, and insurance Telematics. “Originally launched in 2001” under the brand Cartrack, The Company has evolved into an international success, Now listed on both the “NASDAQ” and the “Johannesburg Stock Exchange” (JSE) Under the ticker symbol “KRO”.
Key Highlights:
- Company: Karooooo Limited (formerly Cartrack)
- Founded: “2001”
- Operations: Over 20 Countries In Africa, Europe, And Asia
- Ownership: 65% direct stake, with an additional 10% under a beneficial voting agreement
- With this robust ownership structure, Calisto commands effective control of Karooooo, a business now valued at $1.65 billion.
Karooooo’s Stock Surge: Driving Calisto to Billionaire Heights
As of May 22, 2025, Karooooo’s market cap sits at $1.65 billion, with Calisto’s holdings worth an estimated $1.07 billion. This financial leap officially earns him a place among South Africa’s wealthiest business leaders.
Performance Factors:
- Listed on NASDAQ and JSE, expanding global investor confidence
- Focus on IoT-based mobility tech and AI-driven vehicle analytics
- Consistent year-over-year growth driven by smart mobility demand
- Karooooo’s global reach and strong tech fundamentals continue to attract investors, reinforcing South Africa’s credibility in the international tech arena.
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Significance for South Africa’s Tech and Wealth Ecosystem
Zak Calisto becomes the eighth South African dollar billionaire, joining notable figures like Johann Rupert and Patrice Motsepe. What sets Calisto apart is the self-made, tech-driven nature of his wealth, signaling a shift in how fortunes are built in modern Africa.
Why This Matters:
- Promotes entrepreneurship in South Africa’s high-growth sectors
- Validates the African telematics and mobility tech industry’s global relevance
- Inspires youthful innovation and startup culture in emerging markets
- Unlike resource-based wealth or inheritance, Calisto’s success story exemplifies operational excellence, scalability, and a forward-thinking digital strategy.
A Billionaire Rooted in Innovation: Calisto’s Legacy in the Making
From humble beginnings to global tech mogul, Zak Calisto’s journey is a beacon of possibility. He launched Karooooo with a bold vision for smarter vehicle and fleet management at a time when such technology was still in its infancy in Africa. Now, over two decades later, his foresight has translated into a billion-dollar empire.
Key Takeaways:
- Karooooo proves African startups can scale globally
- Calisto’s leadership highlights the power of visionary execution
- South Africa continues to produce world-class tech entrepreneurs
- As Calisto enters the ranks of South Africa’s most influential business leaders, his story becomes part of the broader narrative of African innovation disrupting global markets.
Conclusion
New Billionaire, New Era for South African Tech
Zak Calisto’s billionaire milestone is not just a financial triumph—it’s a statement about Africa’s place in the global tech economy. His journey stands as inspiration for current and future entrepreneurs who dream of building sustainable, globally relevant businesses from the ground up.