Desmond Sacco’s profile picture

Desmond Sacco

Desmond Sacco’s profile picture
Net worth 2018: $1.02 Billion
Industry: Metals & Mining
Residence: Johannesburg, South Africa
Country: South Africa
Children: 2
Education: Bachelor of Arts / Science, University of the Witwatersrand
BIOGRAPHY

Desmond Sacco was born in Johannesburg, South Africa, South Africa. Desmond Sacco chairs South African mining firm Assore Group, which mines for iron ore, manganese and other ores. Sacco's father Guido founded the company in 1950, and Desmond joined the group in 1968. Desmond Sacco owns about 32% of Johannesburg-listed Assore Group. Assore has a 50% stake in mining group Assmang, which it shares with billionaire Patrice Motsepe's African Rainbow Minerals group.

NET WORTH STATISTIC
2013

$1.5 Billion

2014

$1.3 Billion

2018

$1.02 Billion

TIMELINE
1974

He was appointed to its Board of Directors in 1974, and has served as its Chairman and Managing Director since 1992

1968

In 1968, Sacco joined the Assore Group, a public company traded on the Johannesburg Stock Exchange founded by his father four decades earlier

1928

His father, Guido Sacco, founded the Assore Group in 1928

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