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. 1 2 3 4 5 Andrew England, South Africa’s dose of big pharma, Financial Times, November 17, 2013
  2. 1 2 3 4 Caleb Melby, South African Pharma Entrepreneur Stephen Saad Joins The Billionaires' Club, Forbes, 12/17/2012
  3. 1 2 3 4 5 6 DHS Foundation: Trustees
  4. 1 2 3 Bloomberg BusinessWeek
  5. 1 2 3 4 5 6 Forbes
  6. 1 2 Andile Makholwa, Stephen Saad: Aspen's money spinner, Financial Mail, December 19, 2013
  7. ↑ Aspen Holdings Board of Directors
  8. ↑ Jane Marais, The Billionaires are back, The Times, December 04, 2010
  9. ↑ http://news.nmmu.ac.za/Life@NMMU/April-2014/Honorary-doctorates-all-humble-recipients. Missing or empty |title= (help)
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