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| Description: Net Worth: $1.7 BILLION Industry: Mining Country of Citizenship: South Africa Age: 72 Number of Jobs Created: 2,850 Desmond is the chairman and managing director of Assore Group, a mining conglomerate founded in 1928 by his father, Guido Sacco. The company, listed on the Johannesburg Stock Exchange (JSE), is valued at $3.4 billion. Desmond is also the chairman of Assmang, a mining company in which his Assore Group holds a 50-percent share. Fellow South African billionaire Patrice Motsepe holds the other slice. Assmang, one of the most lucrative and profitable ventures Sacco has invested in, holds extensive manganese, iron ore and chrome interests. |
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