MANILA, Philippines — President Duterte’s net worth grew by four percent or P1.1 million in 2017, owing to a slight increase in his cash on hand and in banks and a decrease in his personal debt.
Based on the 2017 statement of assets, liabilities and net worth (SALN) he submitted to the Office of the Ombudsman, the President’s net worth stands at P28,540,321 as of Dec. 31, 2017.
In 2016, it was at P27,428,861 – an amount that grew by P3 million owing to unused campaign funds. Duterte explained that he did not know to whom he should return the excess amount. Under the law, the unused campaign funds can be declared as income and subject to tax.
His net worth was computed from the declared total assets of P29,340,321 minus the declared liabilities of P800,000.
Duterte’s total assets grew by P911,458 last year due to the increase in the amount of his cash on hand/bank amounting to P19,365,321. In 2016, it was only P18,453,862.
The value of Duterte’s investments acquired in “various years,” on the other hand, decreased to P2.5 million from P3 million in 2016 while the value of his “other personal properties” went up to P1.5 million from P1 million in 2016.
There were no changes in the value of his house, appliances and furniture worth P350,000; jewelry worth P300,000; Volkswagen sedan bought for P40,000 in 1978; and Toyota Rav 4 bought for P800,000 in 1996.
The total value of Duterte’s real properties also remains the same at P4.485 million.
The declared properties include 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.
Five of these declared properties (two agricultural lots, one residential lot and two houses and lot) were under the name of Veronica Duterte, the President’s daughter with his common-law wife Cielito Avanceña. All the properties are in Davao City.
Meanwhile, Duterte’s liabilities – involving a P1-million personal loan from Samuel Uy, a businessman in Davao City, who was also his campaign donor in the 2016 elections – went down to P800,000 after paying P200,000.
For his relatives in government, Duterte listed his daughter and Davao City mayor Sara Duterte-Carpio, son and former Davao City vice-mayor Paolo Duterte and daughter-in-law (Paolo’s wife) Davao City councilor January Duterte.
He also listed his brother Benjamin, who serves as a private secretary at the Davao City Mayor’s Office; nephew Wilfredo Villarica, an administrative officer at the Davao City Council; and niece-in-law (Wilfredo’s wife) Jean Villarica, an auxiliary worker at the Davao City Environment and Natural Resources Office.
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.