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Leni’s wealth shrinks by P2.2M

/ 12:48 AM May 17, 2017
Vice President Leni Robredo

Vice President Leni Robredo

Vice President Leni Robredo was worth about P8.9 million at the end of 2016, down by P2.175 million after her first six months serving as the country’s second highest official.

Robredo’s net worth of P8,878,111.43 in December 2016 was 19.7 percent lower than her P11,053,138 when she took office on June 30, according to the Vice President’s statements of assets, liabilities and net worth (SALN) obtained by the Inquirer on Tuesday.

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Her SALNs showed that Robredo’s total assets declined from P17.95 million in June 2016 to P15.78 million by the end of 2016. Loans amounting to almost P7 million accounted for her liabilities.

The June 2016 figures were reported in her SALN received by the Office of the Ombudsman on August 1 last year, while the December 2016 figures were in her annual SALN filed on April 27.

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Both SALNs showed Robredo held shares of stock in Manila Electric Co. (Meralco) from “different years” but they did not disclose how much they were worth. Unlike President Duterte, Robredo did not appear to have divested her “business interest.”

The lack of details regarding her Meralco shares was one of the grounds raised by a group of pro-Duterte lawyers and bloggers who wanted her impeached. A member of the House of Representatives has yet to endorse their impeachment complaint.

Most of her assets were personal properties, much of them cash, which decreased from P11.115 million to P8.94 million from June to December 2016. Her other real and personal properties as well as her liabilities did not change.

Her furniture and appliances were reportedly worth P1.5 million. Her jewelry were valued at P100,000, and her prepaid insurance was P630,000. She owns a Toyota Innova, bought in 2010 for P1.123 million, and a Toyota Grandia, acquired in 2014 for P1.75 million.

She also owns eight real properties, which were acquired over the years for a total of P1.735 million in her hometown of Naga City. These are her P1.2-million home in Barangay Dayangdang built in 1996, two agricultural lots in Barangay Del Rosario bought in 1995 for P195,000, a P250,000 orchard in Barangay Pacol obtained in 1995, a P60,000 residential lot in Barangay Sta. Cruz purchased in 2000, and a P30,000 farm lot in Barangay Panicuason acquired in 2000.

She has two properties that were donated—a home lot in Barangay Dayangdang and a memorial plot at Eternal Gardens.

In terms of current fair market value, her Dayangdang house was worth P1,826,875, while the Del Rosario agricultural lots, the orchard, the Sta. Cruz property and the donated Dayangdang lot were valued at P2,106,151 for a total of P3.93 million.

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Loans totaling P6.9 million are her only liabilities. She owed P1.15 million from her brother-in-law Jose Robredo Jr., P2 million from her sister-in-law Jocelyn Austria, and P750,000 from her mother Salvacion Gerona. She also owes the estates of Marcelina and Jose Robredo P1 million and P2 million, respectively.

President Duterte had declared a net worth of P27.23 in December 2016, P3.35 million, or 14 percent, more than when he entered Malacañang.

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TAGS: Assets, Leni Robredo, Liabilities and Net Worth), Philippine news updates
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