President Rodrigo Duterte’s net worth slightly grew to P27.43 million with an increase of more than P3 million since he assumed the presidency in June 30 last year, his Statement of Assets, Liabilities and Net Worth (SALN) as of the end of 2016 showed.
According to an Inquirer report, the president’s net worth is computed from his declared total assets amounting to P28,428,862.44 less his declared liabilities of P1 million, which was a personal loan from a certain Samuel Uy.
His total net worth in June 30, 2016 was declared to be P24.08 million, according to his SALN dated August 10 and April 18.
Based on Duterte’s 2016 year-end SALN, which was released by the Office of the Ombudsman on Friday, the increase in his net worth was mainly brought about by his additional cash on hand/bank.
According to Section 8(a) of the Code of Conduct and Ethical Standards for Public Officials and Employees, public servants are required to file their SALN within 30 days after assuming position, on or before April 30 of every following year, and within 30 days after separation from service.
Over the course of six months, Duterte had incurred an additional P3,148,768.40 in his cash on hand/bank, from P15,305,094.04 in June 30 to P18,453,862.44 in December 31. He also acquired other personal properties worth P1 million.
Duterte’s assets as of the end of 2016 were comprised of real properties amounting to P4.485 million and personal properties amounting to P23.943 million.
For his real properties, Duterte declared eight residential lots purchased in 1996, 1997, 1999 and 2005, three houses and lots purchased in 1998, 2008 and 2015, one house and lot acquired in 2007 and two agricultural lots purchased in 2008 and 2014.
Duterte also declared his Volkswagen Sedan, acquired in 1978, worth P40,000 and his Toyota Rav 4, acquired on 1996, worth P800,000. Meanwhile, the president’s household appliances and furniture are worth P350,000, according to his SALN.
Five of these declared properties (two agricultural lots, one residential lot and two houses and lot) were named under Veronica “Kitty” Duterte; the president’s daughter to his common-law wife Cielito “Honeylet” Avanceña.
The president 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 a previous report of the Philippine Center for Investigative Journalism (PCIJ), Duterte declared a net worth of P23.51 million in his 2015 SALN and P21.97 million in 2014.
Duterte’s declared net worth in previous years were: 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.