Desmond Sacco net worth
Desmond Sacco Net Worth: Desmond Sacco is a South African billionaire with a net worth of $680 million. Guido Sacco’s son first ventured into mining when he founded Gloucester Manganese Mines in 1928, and Desmond inherited and further developed his father’s business. Joining the Assore Group as Chairman in 1968, Desmond’s shares were listed on the Johannesburg Stock Exchange more than three decades ago.
He was appointed to the Group’s Board of Directors in 1974 and became Chairman and Managing Director following Guido’s retirement in 1992. He has since been active in acquiring other mining interests, despite violence and unrest ravaging South Africa’s mining industry. Assore Group’s share price nearly doubled as of January 2012, while other companies, like billionaire Patrice Motsepe’s African Rainbow Mining, have struggled to keep turnover above the water. A geologist, Sacco is also a member of the Institute of Directors and the Geological Society of South Africa. Besides being one of the wealthiest and most influential South Africans, Desmond is married with two children.
