South African Tycoon Gus Attridge Loses 15.73 Million As Aspen Stake Sinks

Aspen Pharmacares stock decline has erased 15.73 million from co-founder Gus Attridges stake, bringing his holdings down to 178.12 million.

Aspen Pharmacares stock price has fallen from R183.24 to R168.37, pushing its market capitalization below 4.2 billion and deepening investor concerns.

Despite recent losses, Aspens stock remains up 2.14 year-to-date, showing resilience amid market volatility.

South African businessman Gus Attridge has taken another financial hit as shares of Aspen Pharmacare Holdings, Africas largest pharmaceutical company, continue to slide on the Johannesburg Stock Exchange JSE. The latest decline has wiped out more than 15 million from his stake.

Attridge, co-founder and group chief advisor of Aspen Pharmacare, holds a 4.3-percent stake in the company. His 19,188,850 shares are now worth R3.23 billion 178.12 million, marking a sharp R285.34 million 15.73 million drop amid the latest slide in Aspens stock price.

This decline adds to the losses Attridge suffered earlier this year. Between Jan. 30 and Feb. 11 , his stake fell by 12.03 million, dropping from R3.46 billion 187.84 million to R3.24 billion 175.82 million.

Founded 25 years ago by Attridge and Stephen Saad, Aspen Pharmacare has transformed into a leading pharmaceutical powerhouse, boasting extensive manufacturing operations in South Africa, Germany, France, and the Netherlands. Through strategic acquisitions and organic expansion, Aspen has solidified its status in the global market, yet faces significant headwinds.

In the past 16 days, Aspens share price has fallen 8.12, slipping from R183.24 10.10 on March 12 to R168.37 9.28. This slump has pushed the companys market capitalization below 4.2 billion, deepening investor concerns and adding to Attridges financial losses.