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Stephen Saad – Biography Of A South African Billionaire And The Founder Of Aspen Pharmacare

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You may not know what type of future your business will have until you start. When you begin, events will start unfolding themselves and the way you handle the events will determine the success or failure of your business. For instance, Stephen Saad never knew that his small business that started in a small flat in Durban will make him a billionaire. But, was he able to achieve that just by wishing? No, he had his twists and turns as well.

See Also: Wendy Appelbaum – Biography Of A Successful South African Business Woman And Philanthropist

So, in this article, you will learn about the journey of this successful entrepreneur named Stephen Saad. Stephen Saad is a South African billionaire entrepreneur, the founder, and chief executive of Aspen Pharmacare. In case you don’t know, Aspen Pharmacare is the largest producer of generic medicines in Africa.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

Ensure you read till the end and don’t forget to drop your comments after reading.

See Also: Nicky Oppenheimer – Biography Of The Third Richest Man In Africa

Early Life Of Stephen Saad

Stephen was born in June 1964, and was raised in Durban, South Africa. He began his academic pursuit at Durban High School in Durban, South Africa. He didn’t end his education there. Stephen proceeded to the University of Natal where he received a Bachelor of Commerce. In addition, Stephen played rugby in Ireland and as well studied to become a Chartered Accountant.

In 2014, Nelson Mandela Metropolitan University awarded him an honorary doctorate for the positive role of Aspen in the city of Port Elizabeth.

Stephen is married to his heartthrob and they have four daughters together. According to him, his wife and daughters are the best inspiration he has.

See Also: Manal Rostom – Biography of the first Nike Hijabi Running Ambassador

Stephen Saad Career

Actually, it is always good to have first-hand knowledge in other people’s business before venturing into your personal business. And, this is exactly what Stephen did. He started his career at Quickmed, a prescription drug distribution company in black townships during the apartheid. Without mincing word, we can say that this experience contributed immensely to the creation of his company.

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Stephen Saad made his first million at 29 when he sold his shares in Covan Zurich for US$3million. Following that, he co-founded Aspen Pharmacare together with Gus Attridge in 1997. They began this outfit as a small business in a three-bedroom house somewhere in Durban, South Africa. Today, Aspen Pharmacare has 26 manufacturing facilities at 18 sites on six continents and employs more than 10,000 staff.

Currently, Stephen Saad serves as the Chief Executive of the company while Gus Attridge is the deputy chief executive. In addition, Saad chairs Sharks; a rugby union club in Durban. He is also part of the board of trustees of Durban High School (his alma mater).

See Also: Thuli Madonsela – Biography And Awards Of A Renowned South African Advocate

Aspen Pharmacare Holdings

Aspen Pharmacare is a multinational South Africa’s holding Company founded by Stephen Saad. The firm focuses on providing pharmaceutical products for all and sundry. Currently, Aspen is the largest producer of generic medicines in Africa with presence in six continents.

In addition, Pharmacare improves the health of patients in more than 150 countries through high quality affordable products. Also, the key business segment of Pharmacare are Manufacturing and Commercial Pharmaceuticals.

See Also: Koos Bekker – Biography Of A Self Made Billionaire And The South Africa Tech King

Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

Subsidiaries Of Aspen Pharmacare

  • Aspen Pharmacare Ireland Limited
  • Aspen Europe GmbH
  • Shelys Pharmaceuticals Limited
  • Aspen Phillippines Incorporated
  • Aspen Global Incorporated
  • New Zealand New Milk Ltd
  • Aspen Pharma Industria Farmaceutica Ltda
  • Aspen Asia Pacific Pty Ltd
  • Brimpharm SA (Pty) Ltd
  • Aspen Asia Company Limited
  • Aspen USA, Inc
  • Triomed (Pty) Ltd
  • Aspen Healthcare Taiwan Limited
  • Aspen Australia Pty. Ltd
  • Beta Healthcare Uganda Limited
  • Aspen Healthcare FZ LLC
  • Aspen Argentina S.A.
  • Shelys Africa Ltd
  • Aspen Nutritionals Pty Ltd
  • Aspen Pharma Mexicana S. de R.L. de C.V.
  • Wyeth, S de E.L. de C.V
  • Aspen Netherlands B.V.
  • Aspen Nutritionals Australia (Pty) Ltd
  • Fine Chemicals Corporation (Pty) Ltd
  • Aspen Pharmacare Nigeria Ltd
  • Aspen Polska Spolka z organiczona odpowiedzial
  • Formula Naturelle (Pty) Ltd
  • Aspen Labs S.A. de C.V.
  • Aspen API Incorporated
  • Pharmalatina Holdings Limited
  • Aspen Italia srl
  • Aspen Medical Products Malaysia Sdn Bhd
  • Shelys Pharmaceuticals International Limited
  • Aspen Pharmacare Resources Ltd
  • Aspen Finance (Pty) Limited
  • Beta Healthcare International Ltd
  • Pharmacare Limited
  • MSD NL 8 B.V
  • Aspen Nutritionals Hong Kong Limited
  • KAMA Industries Limited
  • Aspen Notre Dame de Bondeville SAS
  • Aspen Pharmacare Australia Ltd

See Also: Cyril Ramaphosa – Biography Of The Fifth President Of The Republic Of South Africa

Stephen Saad Net Worth

As of 2011, Stephen was worth US$640million which made one of Africa’s 40 richest people. In 2013, his stock portfolio went up to 75%. According to Forbes, Stephen was worth $1.2 billion as of June 2018. In addition, Stephen has his own private game reserve called Exeter at Sabi Sands. The reserve is next to South Africa’s Kruger National park.

See Also: Patrice Motsepe – Biography Of South African Mining Billionaire

His Share Of Business Setback

Truly, you cannot always have good times in business and not experience some challenges. Stephen Saad also had his fair share of business downfall in 2019. The downfall saw his net worth slated by as much as 4billion Rand ($276 million). This event was as a result of the crash in his shares in ‘drugmaker’, a company he co-founded two decades ago. His share of the company is 12%.

See Also: Winnie Byanyima – Biography Of The First Female Ugandan Aeronautical Engineer

Stephen Saad Awards

  • Entrepreneur of the Year Award, All Africa Business Leaders Awards, gala
  • Sunday Times Business Man of the year, 2012
  • Made Forbes list of Billionaires, 2018
  • Named among Forbes Africa’s Billionare, 2018
  • South Africa Chapter of the world entrepreneur Award, Ernst & Young
  • Convocation Award, University of Kwazulu-Natal

See Also: Sahle-Work Zewde – Biography And Career Of Ethiopia’s First Female President

Stephen Saad Quotes

“In life, you don’t get anywhere or do anything you hope to without some sort of sacrifice.”

“You are not defined by how many times you get knocked down but by how many times you got up after being knocked down.”

“The most important indicator of success is ensuring that you get the balance right.”

“While money and the pursuance of personal wealth may be an important consideration in life, one should not lose sight of those things money cannot buy while pursuing material wealth.”

“I wake up every morning with the realisation that there are only 24 hours in the day, no more, or less, no injury time.”

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“All people tend to have a plan and a vision but the hard part is execution. That is where absolute focus and discipline is paramount.”

“You can have as much natural talent in the world, but someone with less talent but more determination, discipline and focus will always outdo you in the end.”

“To be and remain competitive, you cannot become complacent with your success.”

“Once you have become complacent, even after succeeding where others would have failed, you are short selling yourself.”

“To rest is to rust.”

“It is extremely important to have both a clear vision and a plan. It can change at any point but it must be both simple and understandable to all.”

“Surround yourself with people who are more competent than you in the areas they specialise in. Do not be threatened by competenece.”

“I believe one of the critical factors for ensuring success is to trust those you have appointed to lead your business.”

See Also: Glenda Gray – Biography Of A South African HIV Vaccine Warrior

Entrepreneurial Lessons From Stephen Saad

Don’t Despise Little Beginnings

Who would have thought that a business that started as a small business can end up having branches in over 150 countries in the world? It all starts with a business idea. That idea you called little maybe what will skyrocket
you into your next big break.

Starting small is not a crime. As a matter of fact, it is better to start small and scale gradually. There are mistakes you can make as a small business owner and go scot-free. But, if you try the same mistakes as a big business, it can mark the doom of the business.

See Also: 100 profitable business ideas you can start in Nigeria

Business Has Its Challenges

Obviously, there are periods in business that may not be favorable to the founder. In the case of Stephen Saad, he experienced business downfall in 2019 but he’s still very much in business and stable.

In the same vein, every business owner must be prepared for not too good days in business and have a good system in place to control any form of future risks.

The story will not be the same if the only investment Stephen Saad had was the drugmaker business. But fortunately, he has other investments and subsidiaries that helped him maintain his balance.

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