What is Desmond Sacco worth?
Desmond Sacco, a South African billionaire with a net-worth of $680m, is worth over a billion dollars. Desmond Sacco is the son of Guido Sacco who started mining in 1928 with Gloucester Manganese Mines. He inherited his father’s company and developed it further. Desmond joined Assore Group, where he is Chairman, in 1968. He listed the company shares at Johannesburg Stock Exchange over three decades ago. In 1974, he was appointed to the board of directors and took over his current positions in 1992 when Guido retired.
Since then, he’s actively acquired other mining interest, even though violence and unrest have ravaged South Africa’s mining industry. Assore Group shares almost doubled in January 2012. Other outfits like Patrice Mtsepe’s African Rainbow Minerals struggled to maintain turnover numbers. Sacco, a geologist and fellow of both the Institute of Directors of South Africa and the Geological Society of South Africa, is a geologist. Desmond, a married father of two children and one of South Africa’s richest and influential people, is also a geologist.
