Governor cites inheritance for rise in net worth

The governor of Laguna could be one of the wealthiest local government officials today with a net worth of P107 million, P100 million more since he first held public office as mayor of Pagsanjan town in 2001.

Emilio Ramon Ejercito III, more popularly known as Jeorge “ER” Ejercito, declared P107,040,000 in total assets and net worth, without liabilities, in his 2012 statement of assets, liabilities and net worth (SALN) filed on April 30 at the Office of the Ombudsman for Luzon in Quezon City.

In an article posted on the provincial government’s website, Ejercito explained that his wealth comes from his inheritance and income as a movie star.

Ejercito recently starred in two movies: the “Manila Kingpin: The Asiong Salonga Story” in 2011 and in “El Presidente” in 2012.

“I am not hiding anything. I am lucky to be born an Ejercito (and) I earn a lot from being an actor,” the article read, quoting Ejercito in a TV show in March where he addressed questions concerning his SALN.

The Inquirer requested further interview with the governor, but all calls to his and his staff’s cell phones since weekend were left unanswered.

University of the Philippines Los Baños professor on local governance, Dr. Aser Javier, said local government officials’ net worth could increase every year beyond suspicion as a result of the annual inflation rate and the steady rise of the economy.

Properties

Ejercito, 49, currently owns three house and lots in Hagonoy town in Bulacan, San Juan City in Metro Manila and Pagsanjan; and two properties in Magdalena town, also in Laguna, and Pagsanjan, with a total worth of P92 million.

His total personal and other properties worth P15 million listed jewelry, home appliances and five vehicles, among which are two luxury sports utility vehicles, each worth P3.5 million, acquired in 2009.

Under the business interests and financial connections item, the governor declared Homerson Development Corp., a Makati-based real estate company that he became a part of in 2009, and Wines Merchants Inc., a wine distributor company in San Juan City, which he joined starting 2006.

These have made Ejercito richer than his cousin, Sen. Jinggoy Estrada, whose net worth stood at P93.5 million in 2010. Ejercito is almost twice richer than President Aquino and Vice President Jejomar Binay, whose net worths, also in 2010, were P55 million and P58 million, respectively.

Previous SALNs

Ejercito’s SALNs from 2001 to 2007 and in 2010, copies of which were furnished the Inquirer on Friday by a source, showed a sharp rise in the governor’s net worth from P8.1 million, when he was first elected mayor of Pagsanjan in 2001, to P107 million when he became governor in 2010.

Based on the SALNs, Ejercito started in politics with a single real estate property (a P3.2 million-house in Bulacan acquired in 1989), a van, a sports utility vehicle, pieces of jewelry and home appliances.

It was only since 2004 that Ejercito declared in his SALN an inherited property (lot only) in Barangay Sabang in Magdalena, acquired in 2000, that made him richer by P7.2 million than he was from 2001-2003.

In his 2006 SALN, Ejercito declared the P26.3-million house and lot he inherited in San Juan, Metro Manila, although his SALN showed that the property was acquired in 1989. His net worth in 2006 and 2007, his second term as Pagsanjan mayor, was P40 million.

Inheritance

Ejercito is a multimillionaire, as of 2010, when he was elected governor, after inheriting two more properties—a P9.2 million lot in Barangay Sabang and a P46-million house and lot in Barangay Dos, both in Pagsanjan. Ejercito’s 2010 SALN showed that he acquired these properties in 2009.

A check at the Ombudsman on Friday showed that Ejercito’s 2011 and 2012 SALNs contained the same list of assets and net worth, without liabilities, in his 2010 SALN.

Ejercito’s net worth became a hot topic in political debates in Laguna, where he is seeking reelection under the United Nationalist Alliance, against fourth district Rep. Edgar “Egay” San Luis of the Liberal Party.