Duterte’s 2016 wealth now P27.4 M, up by P3.35 M in six months
Vince F. Nonato
President Rodrigo Duterte’s wealth by the end of 2016 has slightly grown to P27.43 million, an increase of P3.35 million during his first six months as chief executive.
When Mr. Duterte entered office on June 30, his net worth was declared to be P24.08 million, according to his Statements of Assets, Liabilities and Net Worth dated August 10 and April 18.
The SALNs were obtained from the Office of the Ombudsman upon request by the Philippine Daily Inquirer and a few other publications (Rappler, The Philippine Star, The Manila Times, ABS-CBN, and CNN Philippines), subject to a P40 processing fee.
Mr. Duterte’s assets grew to P28.43 million by the end of 2016, from P25.18 million when he entered office.
To compare, President Benigno Aquino III’s wealth increased during the first semester of his presidency by P4.8 million. According to the Philippine Center for Investigative Journalism, his declared net worth are as follows: P54.999 million in December 2010, P50.19 million in June 2010, and only P15.44 million in December 2009 prior to the campaign period.
Mr. Duterte’s wealth was previously questioned by opposition Senator Antonio Trillanes IV, who claimed during the home stretch of the 2016 campaign period that the longtime Davao politician did not declare P211 million in a bank account in Metro Manila in 2014.
At least going by the SALN declarations, the growth of Mr. Duterte’s wealth was mostly driven by the increase of “cash on hand/bank” to P18.45 million. This meant a P3.14-million increase from the declared amount of P15.31 million six months before.
Unspecified “investments” decreased to P3 million from P3.9 million. But in his SALN for December, he included an entry for “other personal properties” worth P1 million, which the June declaration did not reflect. The value of jewelries remained the same at P300,000.
There was no change when it comes to the total declared value of his nine residential properties in Davao City, which have an overall acquisition cost of P1.405 million.
Two of these properties consist of a house and lot: his P175,000 home in Matina Crossing purchased in 1998 and another one in Margarita Village worth P500,000 and bought in 2008.
Four of the lots were located in Gallera de Oro and bought for P120,000 each in 1996, while three in Woodridge were acquired in 1997 to 1999.
The real properties of Mr. Duterte’s 12-year old daughter Veronica also remained the same in value between June and December.
The value of three residential properties in Matina Crossing and two agricultural lots in the barangays of Malagos and Catigas totaled P3.08 million. These were declared to have been obtained through the “exclusive funds” of his partner Cielito Avanceña.
Going by the current fair market value, however, Mr. Duterte’s lots were worth P2.829 million while the properties under his daughter’s name were valued at P466,674.10.
Mr. Duterte also owns a Volks Sedan and a Toyota Rav 4 with acquisition costs of P40,000 and P800,000. Household appliances and furnitures were worth P350,000.
Liabilities and interests
Liability consists of a single personal loan from businessman Samuel Uy, which shrank to P1 million from P1.1 million six months before.
Mr. Duterte apparently divested his interests in Honda Cars in General Santos City and Poeng Yue Foundations, Inc. in Davao City. His June 2016 SALN showed he was an incorporator of the said entities, but the space in his December 2016 SALN was left blank. Instead, there was a typewritten “x” next to a box for “I/We do not have any business interest or financial connection”
Currently, he has seven relatives also working for the government: daughter Sara Duterte-Carpio (Davao City mayor), son Paolo Duterte (Davao City vice-mayor), daughter-in-law January Duterte (Davao City councilor and Barangay Catalunan Grande chairman), brother Benjamin Duterte (private secretary at the Davao City Mayor’s Office), nephew Wilfrido Villarica (administrative officer at the Sangguniang Panlungsod of Davao City), Wilfrido’s wife Jean Villarica (auxiliary worker at the Davao City Environment and Natural Resources Office), and his balae (Sara’s mother-in-law), Court of Appeals Associate Justice Agnes Reyes Carpio.
According to the PCIJ, Mr. Duterte’s 2015 SALN stated his net worth as P23.51 million, which meant his wealth grew by P3.92 million year-on-year.
His declared wealth has steadily increased over the past two decades. PCIJ said his SALNs stated the following declarations of net worth: P21.97 million in 2014, P18.93 million in 2011, P16.62 million in 2009, P15.32 million in 2008, P9.69 million in 2007, P8.65 million in 2006, P8.43 million in 2005, P7.02 million in 2004, P2.83 million in 2002, P1.77 million in 2000, P1.48 million in 1999, P1.05 million in 1998, and P897,792 in 1997.
Vice-President Maria Leonor Robredo’s 2016 SALN would not be available until next week. Her entry SALN in June reflected a net worth of P11.05 million (total assets of P17.95 million minus P6.9 million in loans).
Public servants are required to file their SALNs by April every year, as well as when they start a government job. This promotes transparency and helps check if government employees show sudden changes in wealth. #