Key points:
- Saad’s Aspen Pharmacare stake increased by $72 million in a week, bolstering his wealth to over $770 million.
- Aspen’s shares rose 10.42% in 5 days, pushing its market cap to $5.8 billion, reinforcing its status on the JSE.
- Aspen’s stock has gained 21% YTD, offering investors substantial returns amid market volatility, showcasing its strong performance.
South African billionaire Stephen Saad has witnessed a significant increase in his wealth, with his stake in Aspen Pharmacare surging by $72 million in the past week amidst a notable uptick in the company’s share price on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, Saad’s stake in Aspen Pharmacare has soared by R1.31 billion ($72.72 million), over the past five days. This strengthens Saad’s position as one of Africa’s wealthiest individuals.
The recent surge in his fortune follows a setback of $28.01 million between May 20 and 27, when his stake fell from R13.45 billion ($729.95 million) to R12.93 billion ($701.94 million).
Stephen Saad’s Aspen stake surpasses $770 million
Aspen Pharmacare, headquartered in Durban and renowned for its global presence in the pharmaceutical industry, has significantly contributed to Stephen Saad’s wealth in recent years. Founded by Saad in 1997, the company has grown under his leadership to become a cornerstone of South Africa’s pharmaceutical sector, operating in over 115 countries.
Stephen Saad, who currently serves as Aspen Pharmacare’s CEO and holds a substantial 12.5-percent stake comprising 57,151,972 ordinary shares, now commands an equity interest valued at over $770 million.
Aspen’s shares gain 10.42% in 5 days, market cap hits $5.8 billion
Aspen shares on the JSE have gained 10.42 percent in the past 5 days, climbing from R220.13 ($12.21) on June 14 to R243.06 ($13.48). The surge solidifies Aspen’s position as one of the JSE’s most valuable companies, with a market capitalization of $5.8 billion.
As a result, the market value of Saad’s stake has increased by R1.31 billion ($72.7 million) from R12.58 billion ($698.2 million) to R13.89 billion ($770.9 million), solidifying his position as a prominent figure in South African business and investment circles.
Your Money and Your Life
Aspen’s resilient stock price highlights its investor appeal amid global market fluctuations. Starting the year at R201.5 ($11.2), Aspen shares have gained a robust 21 percent year-to-date, making it a top performer on the JSE.
Investors in Aspen Pharmacare have seen their fortunes rise by more than 20 percent since the beginning of the year, driven by stock price appreciation. An initial investment of $100,000 in 2024 would now be worth $121,285, reflecting a profit of $21,285.
