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 billionDurban-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.
