Stephen Saad

Stephen Saad
Born Stephen Bradley Saad
June 1964 (age 54)
Durban, South Africa
Residence Durban, South Africa
Nationality South African
Education Durban High School
Alma mater University of Natal
Occupation Businessman
Net worth US$1.09 billion (January 2018)[1]

Stephen Bradley Saad (born June 1964) is a South African billionaire businessman, who is the founder and chief executive of Aspen Pharmacare (JSE: APN), the largest producer of generic medicines in Africa.

Early life

Stephen Bradley Saad was born in June 1964,[2] and raised in Durban, South Africa.[3] He attended the Durban High School in Durban.[4][5] He graduated from the University of Natal, where he received a Bachelor of Commerce.[4][5][6] He played rugby in Ireland and studied to become a chartered accountant.[3][5][6]

Career

He started his career at Quickmed, a prescription drug distribution company in black townships during apartheid.[3] At the age of twenty-nine, he sold his share in Covan Zurich for US$3 million, thus becoming a millionaire.[1]

In 1997, together with Gus Attridge, he co-founded Aspen Pharmacare, a public company traded on the Johannesburg Stock Exchange.[5][7] It has become the largest producer of generic medicines on the African continent.[1] He serves as its chief executive and Gus Attridge as its deputy chief executive, and serves on its board of directors.[6][7][8] In 2011, he was worth US$640 million, becoming one of Africa's 40 richest people.[4] His stock portfolio went up 75% in 2013.[1] He is now worth US$1.4 billion.[3][4][1][9]

Additionally, he chairs the Sharks, a rugby union club in Durban.[3] He also sits on the board of trustees of his alma mater, the Durban High School.[5] In 2014, he was awarded an honorary doctorate from Nelson Mandela Metropolitan University for the positive role of Aspen in the city of Port Elizabeth [10]

Personal life

He resides in Durban and spends time at his private reserve in the Sabi Sand Game Reserve near the Kruger National Park.[1] He is married with four daughters.[5][1]

References

  1. 1 2 3 4 5 6 7 "Stephen Saad". Forbes. Retrieved 2017-09-12.
  2. ↑ "Stephen Bradley SAAD - Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 23 June 2017.
  3. 1 2 3 4 5 Andrew England, South Africa’s dose of big pharma, Financial Times, 17 November 2013
  4. 1 2 3 4 Caleb Melby, South African Pharma Entrepreneur Stephen Saad Joins The Billionaires' Club, Forbes, 17 December 2012
  5. 1 2 3 4 5 6 Foundation, DHS. "DHS Foundation | DHS school community of Old Boys". www.dhsfoundation.co.za. Retrieved 2017-09-12.
  6. 1 2 3 "Stocks". Bloomberg.com. Retrieved 2018-01-09.
  7. 1 2 Andile Makholwa, Stephen Saad: Aspen's money spinner, Financial Mail, 19 December 2013
  8. ↑ "Aspen Pharmacare". www.aspenpharma.com. Archived from the original on 23 April 2014. Retrieved 9 January 2018.
  9. ↑ Jane Marais, The Billionaires are back, The Times, 4 December 2010
  10. ↑ http://news.nmmu.ac.za/Life@NMMU/April-2014/Honorary-doctorates-all-humble-recipients. Missing or empty |title= (help)
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