Richest, poorest Cabinet members bared | Inquirer News

Richest, poorest Cabinet members bared

/ 11:00 PM May 28, 2014

Foreign Secretary Albert del Rosario  INQUIRER FILE PHOTO

MANILA, Philippines – Thirty-four out of 35 members of President Benigno Aquino III’s Cabinet are multi-millionaires, their 2013 statements of assets, liabilities and net worth (SALN) showed.

SALNs made available to Malacañang reports revealed that Foreign Affairs Secretary Albert del Rosario remained the richest Cabinet member with a net worth of P765 million, an increase of almost P60 million from 2012.


Meanwhile, the lone non-millionaire and “poorest” in the group is Education Secretary Armin Luistro whose net worth is P433,392.17, a substantial drop from his net worth of P739,006.14 in 2011 and P550,651 in 2012.


Del Rosario, who was appointed in 2011, invested more than P665 million in marketable securities alone. He has a total net worth of P765,379,281.02 in 2013. Among his declared properties are two condominium units at the Pacific Plaza Towers in Taguig City, worth P21.6 million and P38.59 million.

At second place is Tourism Secretary Ramon Jimenez Jr. with a net worth of P282,466,800. His biggest asset is his house in Ayala Alabang worth P59 million. He has P40.6 million in bonds and P48.8 million as cash on hand or in bank.

Finance Secretary Cesar Purisima has a net worth of P278,947,249. He has invested heavily in equities, bonds and real estate. His SALN showed that his jewelry and art collection is worth P12.9 million.

Interior Secretary Manuel Roxas II, the running mate of Aquino during the last presidential election, has a net worth of P211,027,479.88.

He has P122 million in stocks and P24 million in cash and time deposit. Listed in his SALN are properties acquired through inheritance. He has a number of business interests acquired from the estate of his father, former Senator Gerardo Roxas.

Like his colleagues, Trade Secretary Gregory Domingo had years of experience in the private sector before being appointed into office. He declared a net worth of P150,641,395 for 2013. Most of his assets are also in investments and deposits. He has a P37 million worth house in Makati bought in 2004 and an P18.5 million vacation house in Nasugbu, Batangas.


Investments also took up most of the assets listed by Chief Presidential Leal Counsel Alfredo Benjamin Caguioa. He declared a net worth of P120,378,000.

Meanwhile, Cabinet Secretary Jose Almendras declared a net worth of P119,841,097.67. His biggest asset is his house in Quezon City worth P26.7 million. He has P26.1 million in bank deposits and foreign currency placements.

Energy Secretary Carlos Jericho Petilla’s net worth of P117,095,110 was mostly attributed to his real properties in Metro Manila, Leyte and Batangas. He also has P26.5 million in cash and P28.9 million in furniture and investments, according to his SALN.

On the other hand, Transportation and Communications Secretary Joseph Emilio Abaya declared a net worth of P112,080,897.55 for 2013, P37.9 million of which are deposited in the bank. He bought a condominium unit in Makati worth P27 million.

Health Secretary Enrique Ona’s net worth for 2013 was P93,692,345.56, most of which was invested in stocks and treasury bonds.

Below is the list of secretaries and their net worth in descending order:

 Originally posted at 03:41 pm | Wednesday, May 28, 2014


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Who is richest, poorest senator in 2013

TAGS: Politics, Richest, SALN

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