Stephen Saad
Stephen Saad | |
|---|---|
| Born | Stephen Bradley Saad June 1964 (age 60) Durban, South Africa |
| Education | Durban High School |
| Alma mater | University of Natal |
| Occupation | Businessman |
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
[edit]Stephen Bradley Saad was born in June 1964 to Lebanese parents,[1] and raised in Durban, South Africa.[2] He attended the Durban High School in Durban.[3][4] He graduated from the University of Natal, where he received a Bachelor of Commerce.[3][4][5] He played rugby in Ireland and studied to become a chartered accountant.[2][4][5]
Career
[edit]He started his career at Quickmed, a prescription drug distribution company in black townships during apartheid.[2] At the age of twenty-nine, he sold his share in Covan Zurich for US$3 million, thus becoming a millionaire.[6]
In 1997, together with Gus Attridge, he co-founded Aspen Pharmacare, a public company traded on the Johannesburg Stock Exchange.[4][7] It has become the largest producer of generic medicines on the African continent.[6] He serves as its chief executive and Gus Attridge as its deputy chief executive, and serves on its board of directors.[5][7][8] In 2011, he was worth US$640 million, becoming one of Africa's 40 richest people.[3] His stock portfolio went up 75% in 2013.[6] He is now worth US$1.4 billion.[6][2][3][9]In October 2016, He won the Entrepreneur of the Year award at the All Africa Business Leaders Awards gala.[10]
Additionally, he chairs the Sharks, a rugby union club in Durban.[2] He also sits on the board of trustees of his alma mater, the Durban High School.[4] 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 [11]
Personal life
[edit]He resides in Durban and spends time at his private reserve in the Sabi Sand Game Reserve near the Kruger National Park.[6] He is married with four daughters.[6][4]
References
[edit]- ^ "Stephen Bradley SAAD – Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 23 June 2017.
- ^ a b c d e Andrew England, South Africa’s dose of big pharma, Financial Times, 17 November 2013
- ^ a b c d Caleb Melby, South African Pharma Entrepreneur Stephen Saad Joins The Billionaires' Club, Forbes, 17 December 2012
- ^ a b c d e f Foundation, DHS. "DHS Foundation | DHS school community of Old Boys". www.dhsfoundation.co.za. Retrieved 12 September 2017.
- ^ a b c "Stocks". Bloomberg.com. Retrieved 9 January 2018.
- ^ a b c d e f "Stephen Saad". Forbes. Retrieved 12 September 2017.
- ^ a b Andile Makholwa, Stephen Saad: Aspen's money spinner, Financial Mail, 19 December 2013
- ^ "Aspen Pharmacare". www.aspenpharma.com. Archived from the original on 23 April 2014. Retrieved 9 January 2018.
- ^ Jane Marais, The Billionaires are back, The Times, 4 December 2010
- ^ "Stephen Saad". Forbes. Retrieved 27 August 2024.
- ^ "Honorary doctorates all humble recipients". NMMU.[permanent dead link]