Popular, Rich List

The Richest People in South Africa

10) Gus Attridge – $660 Million

Gus Attridge is Deputy CEO at Aspen Pharmacare, the largest pharmaceutical manufacturer in Africa. The company according to its own sources is the world’s fifth largest generic drug maker. Gus Attridge own a 4% stake in the South African firm, he co-founded with Aspen Pharmacare CEO Stephen Saad in 1997.

Aspen Pharmacare expanded its global influence with a couple of acquisitions in 2013 which led to revenue growth by 53% in the year through June 2014 to $2.7 billion (29.5 billion Rand). In October 2014, UK pharmaceutical giant GlaxoSmithKline, which owns nearly 19% of Aspen Pharmacare, purchased 25% of Aspen’s Japanese unit for an undisclosed price. Aspen manufactures drugs in factories around the world, including in Australia, Brazil, Mexico, Germany, South Africa and Tanzania.

Gus Attridge

9) Desmond Sacco – $680 Million

Desmond Sacco dropped from the billionaires’ list, thanks to steep declines in his company – Assore Group’s stock price, the result of a marked drop in the price of Iron Ore which saw the net worth of the chairman and managing director of the South African mining company drop by half, from $1.4 billion in 2013. His father, Guido, founded the firm in 1928, and passed the reins to his son when he retired in 1992.

The company has a 50% stake in Assmang Limited, a private company that operates seven mines which produce Chrome, Manganese and Iron. Sacco has been the chairman of Assmang since 1999. A geologist, Sacco is a fellow at the Geological Society of South Africa and the Institute of Directors in Southern Africa. In his younger years, he was a avid cricket and hockey player at the University of South Africa.

Desmond Sacco

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