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Duterte’s net worth grew to P27.4 million in 2016

newsinfo / Nation
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Duterte’s net worth grew to P27.4 million in 2016

/ 12:05 PM May 12, 2017
rodrigo duterte

President Rodrigo Duterte. INQUIRER FILE PHOTO/JOAN BONDOC

President Rodrigo Duterte’s net worth by the end of 2016 slightly grew 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 (SALN) dated August 10 and April 18.

The SALNs were obtained from the Office of the Ombudsman upon request by the Philippine Daily Inquirer, subject to a P40 processing fee.

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Mr. Duterte’s assets grew to P28.43 million by the end of 2016, from P25.18 million when he entered office. This was mostly driven by the increase of cash on hand to P18.45 million, from P15.31 million six months before.

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 acquisition cost of P1.405 million. Two of these properties consist of a house and lot, including his P175,000 home in Matina Crossing.

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 and two agricultural lots totaled P3.08 million; these were declared to have been obtained through the “exclusive funds” of partner Cielito Avanceña.

Mr. Duterte also owns a Volkswagen sedan and a Toyota Rav 4 with acquisition costs of P40,000 and P800,000. Household appliances and furniture were worth P350,000.

Liabilities consist of a personal loan from 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.

According to the Philippine Center for Investigative Journalism, Mr. Duterte’s 2015 SALN stated his net worth as P23.51 million.

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His declared net worth for the previous years were: 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)./rga

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TAGS: net worth, Rodrigo Duterte, SALN, wealth
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