Stephen Saad
| Stephen Saad | |
|---|---|
| Born | Durban, South Africa |
| Residence | Durban, South Africa |
| Nationality | South African |
| Education | Durban High School, University of Natal |
| Occupation | Businessman |
Stephen Saad is a South African businessman who serves as the chief executive of Aspen Pharmacare (JSE: APN).
Biography
Early life
Stephen Saad was born and raised in Durban, South Africa.[1] He attended the Durban High School in Durban.[2][3] He graduated from the University of Natal, where he received a Bachelor of Commerce.[2][3][4] He played rugby in Ireland and studied to become a chartered accountant.[1][3][4]
Career
He started his career at Quickmed, a prescription drug distribution company in black townships during apartheid.[1] At the age of twenty-nine, he sold his share in Covan Zurich for US$3 million, thus becoming a millionaire.[5]
In 1997, together with Gus Attridge, he co-founded Aspen Pharmacare, a public company traded on the Johannesburg Stock Exchange.[3][6] It has become the largest producer of generic medicines on the African continent.[5] He serves as its Chief Executive and Gus Attridge as its Deputy Chief Executive, and serves on its Board of Directors.[4][6][7] In 2011, he was worth US$640 million, becoming one of Africa's 40 richest people.[2] His stock portfolio went up 75% in 2013.[5] He is now worth US$1.4 billion.[1][2][5][8]
Additionally, he chairs the Sharks, a rugby union club in Durban.[1] He also sits on the Board of Trustees of his alma mater, the Durban High School.[3] 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 [9]
Personal life
He resides in Durban and spends time at his private reserve in the Sabi Sand Game Reserve near the Kruger National Park.[5] He is married with four daughters.[3][5]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 Andrew England, South Africa’s dose of big pharma, Financial Times, November 17, 2013
- ↑ 2.0 2.1 2.2 2.3 Caleb Melby, South African Pharma Entrepreneur Stephen Saad Joins The Billionaires' Club, Forbes, 12/17/2012
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 DHS Foundation: Trustees
- ↑ 4.0 4.1 4.2 Bloomberg BusinessWeek
- ↑ 5.0 5.1 5.2 5.3 5.4 5.5 Forbes
- ↑ 6.0 6.1 Andile Makholwa, Stephen Saad: Aspen's money spinner, Financial Mail, December 19, 2013
- ↑ Aspen Holdings Board of Directors
- ↑ Jane Marais, The Billionaires are back, The Times, December 04, 2010
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
