Stephen Saad | |
---|---|
Born | Stephen Bradley Saad June 1964 (age 59) 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.
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]
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]
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 [10]
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]
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