Duterte richer by P3 million in 6 months

MANILA, Philippines (Update 3, 6:11 p.m.) — The net worth of President Rodrigo Duterte increased by more than P3 million after six months in office, based on his latest Statement of Assets, Liabilities and Net Worth (SALN).

The Office of the Ombudsman released Duterte's SALN which shows that his net worth was at P27,428,862.44 by December 2016, a slight increase from his P24,080,094.04 net worth in June last year.

This is computed from his declared total assets amounting P28,428,862.44 less his declared liabilities of P1 million, which was a personal loan from a certain Samuel Uy.

The P3-million growth in the president's assets came from his cash on hand or in the bank and personal properties which grew from P15,305,094.04 in June to P18,453,862.44 in December last year.

Duterte's predecessor, Benigno Aquino III, also saw his wealth balloon in his first six months from P15.44 million in December 2009 to P50.19 million June 2010 attributed to properties he acquired from inheritance following the death of his mother, Corazon Aquino, in 2009.

Assets

Duterte's assets as of the end of 2016 were comprised of real properties amounting P4.485 million and personal properties amounting 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.

All the properties are in Davao City.

Duterte seemed to have already divested his interests in Honda Cars- General Santos City and Poeng Yue Foundation Inc. in Davao City. He used to be an incorporator of the two companies since 1997 and 2012, respectively, as declared in his entry SALN for June 30, 2016.

"I/we do not have any business interest or financial connection," Duterte declared in his SALN for end of 2016.

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.

President's salary

Duterte's basic monthly salary increased from P165,752 to P222,278 starting January this year, a salary hike which is almost twice that of Aquino, who received P120,000 a month. The salary increase is not yet reflected in Duterte's latest SALN, which covered only up to December of last year.

On February 2016, Aquino signed Executive Order 201 which mandates a four-year basic pay upgrading in the bureaucracy.

Duterte, who holds Salary Grade 33, gets the biggest adjustment as his salary will go up to P298,083 next year and to P399,739 in 2019. — with Patricia Lourdes Viray