Manila, Philippines - President Aquino appears to have increased his wealth by more than P39 million in just one year.
Based on his statement of assets, liabilities and net worth (SALN), his wealth increased dramatically from P15.44 million as a senator to P55 million as President.
In 2009, then Sen. Benigno Aquino III declared a net worth of P15.44 million. Six months later, on June 30, 2010, the newly elected President filed his SALN as required by law upon assuming the highest office, declaring his net worth as P50.2 million.
But presidential spokesman Edwin Lacierda said the President’s P17-million share from the sale of a family property in Antipolo City largely explained the sharp increase in his wealth. He also said Aquino is earning more as president.
As of the end of 2010, he was worth P55 million, based on his SALN filed with the Ombudsman’s office.
He was the 18th richest among members of the Senate in terms of net worth in 2009.
Manuel Villar Jr. was worth P947.9 million; Jamby Madrigal, P145.6 million; Ramon Revilla Jr., P123.7 million; Juan Ponce Enrile, P118.8 million; Jinggoy Estrada, P84 million; Pia Cayetano, P75.8 million; Edgardo Angara, P64.2 million; Manuel Roxas II, P62.9 million; Loren Legarda, P45.54 million; Miriam Defensor-Santiago, P40.3 million; Juan Miguel Zubiri, P39.3 million; Rodolfo Biazon, P30.7 million; Richard Gordon, P26.5 million; Panfilo Lacson, P24.2 million; Gregorio Honasan, P17.6 million; Alan Peter Cayetano, P16.9 million; Lito Lapid, P15.9 million; Francis Pangilinan, P12 million; Joker Arroyo, P11 million; Francis Escudero, P8 million; and Antonio Trillanes IV, P3.5 million.
In the course of the May 2010 elections, the Philippine Center for Investigative Journalism (PCIJ) reported that among presidential candidates, then Sen. Aquino, standard-bearer of the Liberal Party, had the least net worth based on its scrutiny of the candidates’ SALN for 2007.
Aquino declared a net worth of P13.94 million for that year. As a Tarlac congressman in 1998, he was worth P8.7 million.
His assets included vehicles valued at P3.95 million, including a BMW 650i coupe, P3.2 million in cash on hand and cash in the bank, and firearms worth P400,000.
The PCIJ reported that Villar was the richest candidate with about P1 billion in net worth in 2007.
The President’s 2010 assets stood at P55.3 million. They included motor vehicles valued at P8.7 million, P6.22 million in cash and P22.07 million in real properties.
He had only one liability – more than P228,961 in tax payments – putting his net worth at P55 million.