South African billionaire Stephen Saad gains $34.1 million from Aspen stake

Timilehin Adejumobi -

Key Point

  • Stephen Saad’s Aspen Pharmacare stake rises by $34.1 million to over $750 million, due to recent share price increase on the JSE.
  • Aspen’s shares gain 4.7% in nine days, boosting market cap to $5.9 billion and Saad’s stake value by $34.1 million.
  • Aspen’s year-to-date performance up 19.76%, turning a $100,000 investment into $119,760, highlighting strong returns for investors.

South African billionaire and pharmaceutical mogul Stephen Saad has seen his stake in Aspen Pharmacare increase by $34.1 million, now exceeding $750 million, due to a recent uptick in the company’s share price on the Johannesburg Stock Exchange (JSE).

According to data compiled by Billionaires.Africa, the market value of Saad’s stake in Aspen has surged by R623.5 million ($34.1 million) over the past ten days.

This rebound follows a period of decline from June 21 to July 12, during which his stake dropped by $37.85 million from $779 million to $741.16 million.

Aspen Pharmacare’s shares gain 4.7 percent, market cap above $5.9 billion

Durban-based Aspen Pharmacare Holdings, founded by Stephen Saad in 1997, has expanded into a global pharmaceutical player with operations in more than 115 countries. Under Saad’s leadership, the company has become a dominant force in South Africa’s drug industry.

Aspen’s shares have rallied 4.7 percent in the past nine days, climbing from R230.1 ($12.6) on July 17 to R242.8 ($13.2). The stock’s surge has lifted the company’s market capitalization to more than $5.9 billion.

Stephen Saad’s Aspen stake tops $750 million

Saad, Aspen’s chief executive officer, owns a 12.5 percent stake of 57,151,972 shares, now valued at more than $750 million.

The recent uptick in Aspen’s share price has boosted Saad’s stake’s market value by R623.5 million ($34.1 million), from R13.15 billion ($719.5 million) on July 17 to R13.8 billion ($753.7 million), solidifying his position as a top investor on the JSE.

Your Money and Your Life

Aspen shares on JSE have shown a significant year-to-date performance of 19.76 percent, translating into significant returns for investors. A $100,000 investment at the beginning of 2024 would now be valued at $119,760, reflecting a gain of $19,760.