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One of South Africa’s richest people loses over R3 billion | SA News


Karooooo CEO Zak Calisto lost around R3.1 billion on Thursday, 12 June 2025, after an announcement from the company saw its share price plummet by over 15%.

On Thursday, 12 June 2025, Karooooo informed shareholders that Calisto plans to sell 1.5 million of his personal shares in the company for $50 (around R898) a share.

The company explained that this sale, expected to close on Friday, 13 June 2025, will result in gross proceeds of approximately $75.0 million (R1.33 billion). Karooooo will not receive any of the…

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  1. Fun South African Fact: South African fish migration is so huge you can see it from space.