South African tycoon Gus Attridge rakes in $20 million from Aspen shares

Feyisayo Ajayi -

Key Points:

  • Gus Attridge’s Aspen stake is now worth $251 million, spotlighting his role in Aspen’s growth.
  • Aspen’s shares surge 8.9%, elevating market capitalization above $6 billion, and rewarding investors with significant returns.
  • Aspen’s 19% YTD rise underscores its potential, offering investors substantial returns amid market volatility, and showcasing its strong performance.

South African business executive 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 R372.3 million ($20.5 million) over the past twelve days. This follows a $6.2 million gain recorded between May 6 and May 23, when his stake rose from R4.33 billion ($235.29 million) to R4.44 billion ($241.53 million).

Aspen’s shares gain 10.97 percent, market cap above $6 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 8.9 percent increase in Aspen shares on the JSE, from R220.13 ($12.12) on June 14 to R239.69 ($13.2), has raised its market capitalization above $6 billion, delivering significant returns to investors.

Gus Attridge sees stake rise as share price surges

Gus Attridge, group chief advisor at Aspen Pharmacare and a heavyweight on the Johannesburg Stock Exchange (JSE), holds a 4.3 percent stake in the pharmaceutical company, representing 19,033,829 ordinary shares.

The recent rise in Aspen’s share price has boosted the market value of Attridge’s holding by R372.3 million ($20.5 million). His stake increased from R4.19 billion ($230.7 million) on June 14 to R4.56 billion ($251.2 million) as of this writing.

This solidifies Attridge’s position as a successful South African business leader and prominent JSE investor. It also underscores his growing influence as a significant player in the global pharmaceutical industry.

Your Money and Your Life

Aspen Pharmacare has defied the recent global market volatility, with its share price reflecting strong investor appeal. The stock has climbed 19 percent year-to-date (YTD), making it one of the top performers on the Johannesburg Stock Exchange (JSE).

The company’s shareholders have seen their investments appreciate by over 19 percent YTD, driven by the stock price increase. A $100,000 investment on Jan. 1 would now be worth $122,260, representing a $22,260 profit.