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Duterte net worth up P3M

President Duterte’s net worth increased by P3.35 million during his first six months in office, according to his December 31, 2016 Statement of Assets, Liabilities, and Net Worth.

According to the President’s SALN released by the Ombudsman, Duterte declared a net worth of R27.43 million, R3.35 million higher compared to the P24.08 million he declared on June 30, 2016.

His total assets went up to P28.43 million in December from P25.18 million in June.

However, he declared total liabilities of R1 million due to a personal loan from Davao-based businessman Samuel Uy.
Duterte’s cash on hand or in bank was P18.45 million as of December 31, 2016 – a P3.1-million increase from the P15.31 million on hand he declared six months before.

Duterte also declared ownership of nine real properties totaling P1.405 million in Davao City, as well as two cars, a Volkswagen Sedan acquired in 1978 and a Toyota Rav 4 in 1996, which have a combined value of P840,000.

The value of his household appliances and furniture was unchanged.

Of the total real properties in Duterte’s December 31, 2016 SALN, P3.1 million are under his minor daughter Veronica Duterte’s name. The amount was unchanged from his June 30, 2016 SALN.

Duterte listed seven relatives working in the government. They are his two children Davao City Mayor and Vice Mayor Sara Carpio and Paolo Duterte; daughter-in-law January Duterte, a barangay captain in Davao City; brother Benjamin Duterte as private secretary, City Mayor’s Office; nephew Wilfrido Villarica, administrative officer, Davao City Sangguniang Panlungsod; Wilfrido’s wife Jean, auxiliary worker, City Environment and Natural Resources Office, Davao City; and Justice Agnes Reyes Carpio at the Court of Appeals, Sara’s mother-in-law.

Duterte’s 13-year-old daughter Veronica has five real properties with a total acquisition cost of P3.080 million.

Duterte’s SALN noted that Veronica’s real properties were “purchased through the exclusive funds of the mother, Cielito S. Avanceña.” (Argyll Cyrus B. Geducos)