Duterte’s net worth increases by P3 million

Philippine President Rodrigo Duterte’s net worth went up by over P3 million during his first six months in the office, according to his latest statement of assets, liabilities and net worth (SALN) released by the Office of the Ombudsman on Friday, May 12.

In his SALN, Duterte declared a net worth of P27.43 million as of December 2016, which is higher compared to P24.08 million, as of June of last year  when he assumed the presidency.

His SALN attributed the increase of his net worth to his cash on hand or bank—which rose from P15.31 million in the first half of 2016 to P18.45 million by the end of the year.

Duterte’s net worth, however, is about P1 million less from his P28.43 total declared assets.

This is apparently due to his personal loan to Samuel Uy, who is also known to be among his top donors during the presidential campaign period.

Duterte’s assets previously amounted to P25.18 million as of June 2016.

His investments, on the other hand, went down to P3 million from P3.9 million during the same timeline.

His interests in Honda Cars in General Santos City and Poeng Yue Foundations, Inc. in Davao City were also no longer included his December 2016 SALN.

However, an entry for “other personal properties” totaling P1 million—which did not appear in his June declaration—was added.

Meanwhile, Duterte’s total acquisitions on his real properties, household appliances and furniture, and jewelries stayed the same, amounting to P1.405 million, P300,000, and P350,000 respectively.

Likewise, his vehicle properties, worth P840,000, remain unchanged over the six-month period. Duterte listed his Volkswagen Sedan and a Toyota Rav 4, which he acquired in 1978 and 1996 respectively.

In 2015, Duterte stated a net worth of P23.51 million in his SALN, according to the Philippine Center for Investigative Journalism (PCIJ).

For the previous years, he reportedly declared P21.97 million in 2014, 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, and P8.43 million in 2005.

In 2004, he declared a net worth of P7.02 million, 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.

Earlier in March, an impeachment complaint was filed against Duterte, citing his alleged P2 billion worth of undeclared wealth from 2006 to 2015 as among the grounds for the filing of the impeach rap.