Stephen Bradley Saad (born June 1964) is a South African billionaire businessman, who is the founder and chief executive of

Aspen Pharmacare Aspen Pharmacare Holdings Limited is a public multinational pharmaceutical company headquartered in Durban, South Africa. Founded in 1997, it listed on the Johannesburg Stock Exchange (JSE) in 1998 and purchased South African Druggists in 199 ...

(), the largest producer of generic medicines in Africa.

Early life

Stephen Bradley Saad was born in June 1964 to Lebanese parents, and raised in

Durban Durban ( ) ( zu, eThekwini, from meaning 'the port' also called zu, eZibubulungwini for the mountain range that terminates in the area), nicknamed ''Durbs'',Ishani ChettyCity nicknames in SA and across the worldArticle on ''news24.com'' from ...

, South Africa.Andrew England
South Africa’s dose of big pharma
''

Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Ni ...

'', 17 November 2013 He attended the

Durban High School Durban High School is an all-boys public school in Durban, South Africa. DHS opened its doors in 1866 in two rooms and with seven pupils in Smith Street. From there it moved to a disused granary in Cato Square in 1880, just after the Zulu ...

in Durban.Caleb Melby
South African Pharma Entrepreneur Stephen Saad Joins The Billionaires' Club
''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...

'', 17 December 2012 He graduated from the

University of Natal The University of Natal was a university in the former South African province Natal which later became KwaZulu-Natal. The University of Natal no longer exists as a distinct legal entity, as it was incorporated into the University of KwaZulu-N ...

, where he received a Bachelor of Commerce. He played rugby in

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

and studied to become a chartered accountant.

Career

He started his career at Quickmed, a prescription drug distribution company in black townships during

apartheid Apartheid (, especially South African English: , ; , "aparthood") was a system of institutionalised racial segregation that existed in South Africa and South West Africa (now Namibia) from 1948 to the early 1990s. Apartheid was ...

. 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 Michael Guy Attridge, known as Gus Attridge is a South African businessman. He is the deputy CEO of Aspen Pharmacare, which he co-founded with Stephen Saad in 1997. In 2013 Attridge's 4% personal stake in the company was valued at over $320 milli ...

, he co-founded

, a public company traded on the

Johannesburg Stock Exchange JSE Limited (previously the JSE Securities Exchange and the Johannesburg Stock Exchange) is the largest stock exchange in Africa. It is located in Sandton, Johannesburg, South Africa, after it moved from downtown Johannesburg in 2000. In 2003 ...

.Andile Makholwa
Stephen Saad: Aspen's money spinner
''

Financial Mail ''Financial Mail'' (or the ''FM'', as it is also known), is a South African business publication focused on reaching the country's leading business people. This weekly publication, which was launched in 1959, underwent a major "look and feel" ch ...

'', 19 December 2013 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.Jane Marais
The Billionaires are back
''

The Times ''The Times'' is a British daily national newspaper based in London. It began in 1785 under the title ''The Daily Universal Register'', adopting its current name on 1 January 1788. ''The Times'' and its sister paper '' The Sunday Times'' (f ...

'', 4 December 2010 Additionally, he chairs the

Sharks Sharks are a group of elasmobranch fish characterized by a cartilaginous skeleton, five to seven gill slits on the sides of the head, and pectoral fins that are not fused to the head. Modern sharks are classified within the clade Selachimorp ...

, 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 Nelson Mandela University (formerly known as ''Nelson Mandela Metropolitan University (NMMU)'' ) and before that - the University of Port Elizabeth (UPE), the Port Elizabeth Technikon and Vista University's Port Elizabeth campus. This South Afr ...

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 Sabi Sand Game Reserve is located adjacent to the Kruger National Park in the Lowveld of Mpumalanga, South Africa. Officially named Sabi Sand Wildtuin, the Sabi Sand Game Reserve consists of a group of private game reserves. The Newington Ga ...

near the Kruger National Park. He is married with four daughters.

References

{{DEFAULTSORT:Saad, Stephen 1964 births Living people People from Durban University of KwaZulu-Natal alumni South African people of Lebanese descent South African businesspeople South African billionaires Businesspeople in the pharmaceutical industry