Stephen Saad

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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. He serves as the Chief Executive of Aspen Pharmacare (JSE: APN).

Biography[edit]

Early life[edit]

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[edit]

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]

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.[5]He is married with four daughters.[3][5]

References[edit]