South African tycoon Gus Attridge rakes in $6.2 million from Aspen shares

Feyisayo Ajayi -

Key Points

  • Gus Attridge’s Aspen stake is now worth $241.79 million, spotlighting his role in Aspen’s growth.
  • Aspen’s shares rose 2.65%, elevating market capitalization to $5.6 billion, rewarding investors with significant returns.
  • Aspen’s 16% YTD rise underscores its potential; a $100,000 investment now worth $116,000, yielding $16,000 profit.

South African businessman Michael Guy Attridge (Gus Attridge) has experienced a significant boost in the market value of his stake in Aspen Pharmacare, a leading pharmaceutical company listed on the Johannesburg Stock Exchange (JSE).

According to data tracked by Billionaires.Africa, Attridge’s stake in Aspen has increased by R114.77 million ($6.24 million) over the past 17 days. This follows a $12-million gain recorded between April 23 and May 3, when his stake rose from R4.07 billion ($219.65 million) to R4.29 billion ($231.65 million).

Recent rally propels market cap above $5.5 billion

Aspen Pharmacare, co-founded 25 years ago by Attridge and leading pharma tycoon Stephen Saad, has evolved into 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 has cemented its dominance in the pharmaceutical industry.

The recent 2.65 percent increase in Aspen shares on the JSE, from R227.42 ($12.375) on May 6 to R233.45 ($12.704), has raised its market capitalization above $5.5 billion, delivering significant returns to investors.

Attridge’s stake climbs with Aspen’s growth

Gus Attridge, Aspen’s group chief advisor, and a JSE heavyweight, holds a 4.3-percent stake in the pharmaceutical company, amounting to 19,033,829 ordinary shares.

The recent increase in Aspen’s share price has enhanced the market value of Attridge’s stake by R114.77 million ($6.24 million), with his stake rising from R4.33 billion ($235.29 million) on May 6 to R4.44 billion ($241.53 million) at the time of writing.

This cements Attridge’s position as a successful South African business leader and prominent JSE investor but also highlights his growing position as a significant player in the global pharmaceutical industry.

Your Money and Your Life

Aspen’s shares have been impressive for individual investors this year, delivering impressive gains. Aspen’s shares on the JSE have risen by 16 percent year-to-date.

A $100,000 investment in Aspen at the beginning of the year would now be worth $116.000, reflecting a profit of $16,000.