South African multimillionaire executive Michael Guy Attridge (Gus Attridge) has recorded a substantial increase in the market value of his stake in Aspen Pharmacare, a leading pharmaceutical company listed on the Johannesburg Stock Exchange (JSE).
Over the past 23 days, the share price of Aspen Pharmacare has increased by single-digit percent, returning massive gains to Gus Attridge who has seen the market value of his stake in the leading pharmaceutical group surge by R151.05 million ($7.95 million).
The latest bump in his fortune comes on the heels of previous gains between Feb. 12 and March 24, when his stake in Aspen grew by R447.12 million ($25.12 million), climbing from R3.62 billion ($190.46 million) to R4.09 billion ($215.58 million).
Aspen Pharmacare’s market cap hit $5.2 billion
Aspen Pharmacare Holdings, co-founded 25 years ago by Attridge and leading pharma tycoon Stephen Saad, has become the largest pharmaceutical company in Africa through aggressive mergers and expansion efforts. With major manufacturing sites across the globe, including South Africa, Germany, France, and the Netherlands, Aspen Pharmacare has cemented its dominance in the pharmaceutical industry.
The recent surge in Aspen shares on the JSE, rising by 3.69 percent from R215.00 ($11.347) on March 25 to R222.94 ($11.765), has propelled its market capitalization above $5.2 billion at the time of drafting this report, delivering substantial returns to its shareholders.
Attridge’s Aspen stake soars above $220 million
Attridge, Aspen’s group chief advisor and a JSE heavyweight, holds a 4.26-percent stake in the pharmaceutical group, amounting to 19,024,134 ordinary shares.Â
According to data tracked by Billionaires.Africa, the recent increase in Aspen shares has boosted the market value of Attridge’s stake by R151.05 million ($7.95 million), from R4.09 billion ($215.25 million) on March 25 to R4.24 billion ($223.20 million).Â
The surge in Aspen Pharmacare shares not only solidifies Attridge’s standing as a wealthy South African business figure and leading JSE investor but also underscores his growing status as one of Africa’s wealthiest individuals and a key figure in the global pharmaceutical industry.
