zak calisto
Visionaries - March 28, 2022

Meet Zak Calisto, SA’s Silent Tech Billionaire

Zak Calisto is the founder and global CEO of Cartrack, a thriving auto tech company in South Africa. Calisto has a strong entrepreneurial background, having worked in the telematics industry since 1994.

He  has a broad spectrum of technical and operational skills relating to business concepts and information technology, having launched and managed several firms. Calisto, who added $159 million to his net worth last year is one of South Africa’s silent billionaires.

Calisto’s journey to the top is quite a remarkable one. In a session with Biznews, he said,

“I went to Wits and studied actuarial science, and I’m a dropout. I wanted to drop out. I found it quite boring.

We had a very small class of actuarial science. At that point in time, I really found that I wasn’t a fit with my other colleagues and the professors.”

After leaving school, Calisto decided to go for military service. Then he joined an accelerated training programme with Standard Bank and went into business.

Years later, Calisto has built a highly successful tech business. These are the companies under his name.

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Cartrack

Founded in South Africa, Cartrack has become a prominent global Software-as-a-Service (SaaS”) platform supplier for small, medium, and large organisations, as well as consumers, who require a software platform for data analytics to optimise fleets, driver behaviour, insurance risk, safety, and asset recovery. Cartrack’s principal offering is data analytics, but the company is expanding its artificial intelligence and value-added services to give its users a better return on investment. Since its inception in 2004, Cartrack has expanded its footprint across Africa, Europe, North America, Asia Pacific, and the Middle East.

Karooooo Ltd

Based in Singapore, it is a major worldwide mobility SaaS platform that helps over 1.3 million connected vehicles maximise the value of their data by delivering real-time data analytics solutions for smart transportation. It is the parent company of  Cartrack, and was founded in 2014.  Karooooo provides customers with unique insights and data analytics to help them optimise their company and workforce, reduce costs, improve safety, monitor environmental impact, assist with regulatory compliance, and manage risk.

Zak Calistoi recently lost $285 million dollars. But as it is with most billionaires, the rise and fall of the stock market will continue to have dynamic and unpredictable impacts.

Calisto is in the habit of huge gains, so we can keep our fingers crossed to see how the exchange continues to play out for the billionaire.

NEXT: How these Young Entrepreneurs Became Billionaires

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