Stephen Bradley Saad (born June 1964) is a South African businessman, who is the chief executive of Aspen Pharmacare (JSE: APN).
Early life
Stephen Bradley Saad was born in June 1964, and raised in Durban, South Africa. He attended the Durban High School in Durban.[3][4] He graduated from the University of Natal, where he received a Bachelor of Commerce. He played rugby in Ireland and studied to become a chartered accountant.
Career
He started his career at Quickmed, a prescription drug distribution company in black townships during apartheid. At the age of twenty-nine, he sold his share in Covan Zurich for US$3 million, thus becoming a millionaire.
In 1997, together with Gus Attridge, he co-founded Aspen Pharmacare, a public company traded on the Johannesburg Stock Exchange. It has become the largest producer of generic medicines on the African continent. He serves as its Chief Executive and Gus Attridge as its Deputy Chief Executive, and serves on its Board of Directors. In 2011, he was worth US$640 million, becoming one of Africa’s 40 richest people. His stock portfolio went up 75% in 2013. He is now worth US$1.4 billion.
Additionally, he chairs the Sharks, a rugby union club in Durban. He also sits on the Board of Trustees of his alma mater, the Durban High School. 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
Personal life
He resides in Durban and spends time at his private reserve in the Sabi Sand Game Reserve near the Kruger National Park. He is married with four daughters.
Summary
| Stephen Saad | |
|---|---|
| Born | Stephen Bradley Saad June 1964 (age 52) Durban, South Africa |
| Residence | Durban, South Africa |
| Nationality | South African |
| Education | Durban High School |
| Alma mater | University of Natal |
| Occupation | Businessman |
| Net worth | US$1.1 billion (January 2017) |
Stephen Saad net worth: Stephen Saad is a South African billionaire who has a net worth of $1.9 billion. Stephen Saad is the co-founder of Aspen Pharmacare, South Africa’s leading publicly-traded drug manufacturer on the Johannesburg Stock Exchange. At the start of 2012, Aspen’s revenues took a hit along with the entrance of new generic drug manufacturers to the market. However, Aspen stakes have risen throughout 2012, making Saad a billionaire as his company established relationships with global pharmacy innovators that often see generic companies as rivals. Now GlaxoSmithKline, the world’s fourth-largest pharmaceutical company, is Aspen’s largest shareholder. Stephen entered the world of billionaires at age 29 after he gave his share in the drug business Covan Zurich for $3 million. In 2011 Aspen acquired the global rights to produce some of GSK’s smaller brands. Even though he doesn’t have too much free time on his hands, Saad often goes to Exeter, his private game reserve at Sabi Sands, which is adjacent to the largest national park in South Africa called Kruger National Park.
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