The Richest Man In Ghana, Biography And Net Worth
Ernesto Taricone is one of the most reputable members of Ghanaian society today. Though not a citizen of Ghana, Taricone gained citizenship as a Ghanaian by Naturalization after spending most of his life in the country.
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Ernesto Taricone is one of the most reputable members of Ghanaian society today. Though not a citizen of Ghana, Taricone gained citizenship as a Ghanaian by Naturalization after spending most of his life in the country.
Ernesto Taricone’s worth is worthy of discussion, as it is quite surprising to see how a total stranger could become so wealthy through the business space of another country.
Over the last few years, a lot of people around Africa have taken note of people like Taricone as their source of inspiration. And that is rightfully so, considering Ernesto Taricone net worth.
Here, we will have a look at Ernesto Taricone’s early life, career, and other interesting facts that will blow your mind.
Ernesto Taricone Net Worth
Net Worth: $1.3 Billion, making him the rochest man in Ghana.
Achievements:
2019 Lifetime Award of the maiden City Construction and Properties Awards.
2016 Honorary Consul of Ghana to Italy.
2019 Construction Firm of the Year
Early Life
Detailed information regarding Ernesto Taricone is not available. This is due to the fact that he was born outside of the country, Italy to be precise.
He was born in 1948 with two other siblings. He moved down to Ghana as a teenager with his father in 1968 for business reasons.
After his family settled in Ghana, his family gradually started to establish their footprints on Ghanaian soil through numerous business ventures.
Today, his family is one of the most prestigious among the high caliber of Ghanaian society. Information about his parents is relatively unavailable as well.
Ernesto Taricone Career
After the retirement and demise of his father, Taricone and his siblings inherited their father’s wealth through his construction and real estate development firm known as Trasacco Estate Development Company.
This company is well known through the numerous high-end projects which it executes within the Ghanaian community. Its most popular project is known as the Trasacco Valley which is home to luxurious estates.
Another exceptional project executed by the company is the Aurora Luxury apartment which is also owned by TEDC. This project is said to be worth up to $400 million, reaching in excess of $500 million upon completion. Each property in this estate is said to be worth upwards of $1 million.
As you might already know, Taricone is a civil engineer, as well as an investor. He owns the Tarasco Group which has a workforce of over 5000 Ghanaians, as well as expatriates from all around the world.
Despite having a major influence in the construction industry of Ghana, Taricone is also invested in other areas of the Ghanaian economy such as Agriculture, Mining, and Forestry. With all these diverse investment portfolios, one can only imagine Ernesto Taricone net worth at this point.
The TEDC group has a lot of subsidiaries working under it. Each of these subsidiaries is located within different industries in Ghana.
TEDC Quarry is one such subsidiary that is focused on producing valuable rocks and their distribution. The quarry operates at a maximum capacity of 60,000 tones per month, the highest in the country.
In 2004, Taricone made a partnership to Co-own a construction company that has been in operation in Ghana for over 60 years.
Some of the most reputable projects executed by the company include Hockey Stadium in Accra and the Accra Sports Stadium reconstruction.
These are remarkable projects which highlight the capacity of the company to deliver world-class services. The partnership which Taricone made with this company brought in several millions of dollars for him. This led to an additional rise in Ernesto Taricone net worth.
2Over the years, the company has completed over 60 projects situated across Ghana. These include the Beaufort Ridge at North Ridge which is worth a whopping $10 million.
Ernesto Taricone’s Trasacco Estate Development Company developed and owns the Villaggio Vista Condominium which is now a landmark in Accra for being the tallest building in Ghana.
The project cost $125 million to develop and features $2 million penthouse apartments. Empire Builders Ghana another subsidiary also has a land bank of 150,000 acres. On a general note, the construction companies guided by Taricone has earned him millions of dollars, the highest generated by his subsidiaries.
Shifting the focus to agriculture, Taricone invested Millions of dollars in his own Sant Agata Agricultural Property of Barone Taricone Ltd.
This property boasts of land over a whopping 50,000 acres which host plantations such as banana, pineapple, and so on. Part of the space in this property is dedicated to tourism development.
Another subsidiary of the TEDC is the Royal aluminum systems which produce aluminum-themed products such as windows, doors, and curtain walls. Within the company, it has a section focused on producing glass which was recently completed.
Ever since it started operating, the company owns the majority share of the supply of Glass and Aluminum in Ghana. This brought considerable riches to Ernesto Taricone net worth.
The Gulfwing aviation Ltd finds its home at the Kotoka International Airport. This company offers air transportation services using helicopters and private jets.
This service has been used previously by government officials of Ghana, as well as reputable people within the Ghanaian society. Other notable personnel which requires the services of this company includes the petroleum industry of Ghana.
Other subsidiaries within the TEDC include Fabi timbers Ltd located in Kumasi. This company focuses on producing timber for processing, woodworking, and export to other countries within West Africa and beyond.
This company has recorded sales exceeding over $2 million per month. Today, Ernesto Taricone net worth is valued at $1.3 billion.
How Taricone Spends His Money
With Ernesto Taricone net worth, it is easy to live a life off of luxury. Despite his huge riches which makes him one of the ricehest men in Ghana, Taricone is a much-reserved individual who keeps his business away from the spotlight.
That being said, Taricone owns some of the best in cars. He owns a Mercedes-Benz G-Wagon and a 2020 Range rover.
Information about where he resides and other things which interest him are, however, unavailable.
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