South Africa’s New Dollar Billionaire: Karooooo’s Rise from Stolen Cars Pushes Stock to New Heights

Quick overview

Karooooo’s soaring stock and global strategy have turned its founder into South Africa’s latest dollar billionaire—marking a remarkable rise from humble beginnings in vehicle recovery to global tech success.

Karooooo’s Billion-Dollar Drive: Calisto’s Telematics Triumph

Karooooo’s recent market rally has captured investor attention, driven by strong quarterly performance and successful expansion beyond its South African roots.

The company, now headquartered in Singapore, continues to gain momentum on the back of its Cartrack platform—an innovative Software-as-a-Service solution for fleet management, telematics, and real-time business analytics.

KROJ Share Price Chart Weekly – New Record High After the Bounce Off the 50 SMA

At the center of this growth story is founder and CEO Zak Calisto, who has officially joined the ranks of South Africa’s dollar billionaires. With a 64.81% ownership stake in the company—equating to over 20 million shares—Calisto’s wealth has swelled to approximately $1.07 billion as Karooooo’s share price surged to R980.00.

While it failed to break the symbolic R1,000 mark, the stock has gained an impressive 40% since mid-April, fueled by improving global risk sentiment and the deferral of previously anticipated trade tariffs.

From Car Recovery to Global Tech

Founded in 2001 as a joint venture with Netstar, Cartrack initially focused on vehicle tracking and recovery. It debuted on the Johannesburg Stock Exchange in 2014 and rebranded to Karooooo as part of a broader international push. Today, the company has evolved well beyond its origins, offering sophisticated fleet management tools to clients around the globe.

South Africa continues to be a strategic base for the firm’s operations, but its international footprint—especially in Asia and Europe—has expanded significantly. Karooooo’s platform provides valuable data-driven insights to businesses seeking to optimize logistics, improve safety, and reduce operational costs.

Support Levels and Market Performance

Karooooo’s stock, which briefly dipped to $70 earlier this year, found support at its 50-week simple moving average before resuming its upward trend. The recent rally coincides with broader market optimism and investor appetite for growth stocks, particularly in sectors tied to digital infrastructure and automation.

With consistent earnings growth and increasing global penetration, Karooooo is now positioned as one of the best-performing tech stocks on the JSE. Analysts highlight the company’s resilience and innovation, especially in an environment where fiscal uncertainty and inflation pressures have weighed on other sectors.

Outlook

As Karooooo continues to invest in technology and expand its client base, the company is seen as a standout in the African tech space. Investors are watching closely to see whether its shares will breach the R1,000 threshold, which would mark another symbolic milestone in its remarkable growth journey.

For Calisto, who started with a niche offering in vehicle security, the future now holds not only a billion-dollar valuation but also the potential to steer Karooooo into even larger global markets.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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