Rich man, poor man in Aquino Cabinet

Does joining the government make one poorer—or richer?

Malacañang released to the media on Friday the copies of the statement of assets, liabilities and net worth (SALN) of Cabinet secretaries for 2012, reflecting the rise and fall of the net worth of the members of President Benigno Aquino III’s official family in a year.

Francis Tolentino, chair of the Metropolitan Manila Development Authority, and Foreign Secretary Albert del Rosario were the biggest gainers, according to their SALNs as of Dec. 31, 2012.

Tolentino’s net worth shot up to P43.7 million in 2012 from P22.5 million in 2011—an increase of 94 percent, or P21 million.

The wealth of Del Rosario, the richest Cabinet member, ballooned to P705.4 million from P657.8 million, an increase of P47.6 million, or 7 percent.

In the case of Education Secretary Armin Luistro and Peace Process Adviser Teresita Deles, the odds of getting poorer seemed to increase.

No cars, no jewelry

Luistro’s net worth decreased by P188,355—from P739,006 to P550,651, while Deles lost P14.74 million of her wealth, which fell from P21.83 million to P7.09 million.

Luistro, a La Salle brother and former president of De La Salle University,  has only one entry under “personal and other properties” declared as “cash on hand/bank accounts”— P550,651.14.

Compared to the other Cabinet members, Luistro did not declare any motor vehicles, furniture and fixtures, jewelry, clothes and accessories, paintings, lots and investment plans.

But the wealth of a number of others increased.

12 richest

In 2012, the top 12 richest Cabinet members were: Del Rosario (P705.4 million),  Finance Secretary Cesar Purisima (P270.7 million), Tourism Secretary Ramon Jimenez (P249.9 million), Interior Secretary Mar Roxas (P203.3 million), Trade Secretary Gregory Domingo (P150.7 million),  Chief Presidential Legal Counsel Alfredo Benjamin Caguioa (P120.2 million), Cabinet Secretary Rene Almendras (P116.4 million); Energy Secretary Carlos Jericho Petilla (P111.2 million), Transportation Secretary Joseph Emilio Abaya (P104.7 million), Agriculture Secretary Proceso Alcala (P88.4 million), Public Works Secretary Rogelio Singson (P83.8 million) and Health Secretary Enrique Ona (P80.2 million).

The wealth of the rest ranged from P550,000 to P63 million.

Those who reported their wealth as P10 million or less were Presidential Adviser on Legislative Affairs Manuel Mamba (P10.8 million), Communications Secretary Ricky Carandang (P7.5 million), Presidential Adviser on Political Affairs Ronald Llamas (P5.4 million), Justice Secretary Leila de Lima (P4.2 million), Social Welfare Secretary Dinky Soliman (P3.2 million), Labor Secretary Rosalinda Baldoz (P2.9 million) and Luistro (P550,651).

Presidential spokesperson Edwin Lacierda’s net worth remained unchanged at P13.7 million. His liabilities stood at P767,474, mostly credit card debts.

National Anti-Poverty Commission head Joel Rocamora reported a net worth of P22.3 million, down from P25.3 million in 2011.