Duterte's 2016 net worth up at ₱27.4M

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Metro Manila (CNN Philippines, May 12) — President Rodrigo Duterte's net worth grows by over ₱3 million in his first six months as chief executive.

His latest Statement of Assets, Liabilities and Net worth (SALN), released by the Office of the Ombudsman on Friday, showed a net worth of ₱27.42 million as of December 2016. Duterte filed his SALN last April 18.

His total assets were at ₱28.43 million, slightly lower by ₱1 million because of a personal loan to businessman Samuel Uy. Uy was known as one of Duterte's top donors in the 2016 presidential campaign where he gave P30 million.

Before assuming the presidency, Duterte's net worth was at ₱24.08 million as of June 30, 2016.

The increase in his assets in December can be attributed to ₱3.4 million more cash on hand or in his bank accounts.

Duterte hardly purchased additional properties during his first six months as President. The cost of houses and lots he owns remained at ₱925,000.

Other personal properties and investments increased by only ₱100,000 from ₱4.2 million in June to ₱4.3 million in December.

When he assumed the presidency after winning the May 2016 elections, Duterte quit being an incorporator of at least two businesses – Honda Cars and Poeng Yue Foundation, Inc., his SALN shows.

Duterte's common-law wife Honeylet Avanceña also bought no additional properties, with her assets remaining at ₱3.08 million.

Duterte's December 2015 SALN as then mayor of Davao City showed an even lower net worth of ₱23.51 million.

SALN issues

Senator Antonio Trillanes IV has accused Duterte of failing to disclose at least ₱211 million in one of his bank accounts in his 2014 SALN, which only showed a net worth of ₱21.97 million. He also said Duterte has ₱2.207 billion in alleged unexplained wealth in undisclosed bank accounts from 2006 to 2015.

These allegations were also mentioned as grounds for impeachment in the complaint filed against Duterte last March.

Also read: Duterte faces impeachment complaint over alleged killings, corruption

Duterte has repeatedly denied these accusations and even ordered the Anti-Money Laundering Council (AMLC) to release information on his net worth.

The AMLC and Bangko Sentral ng Pilipinas decided not to investigate the matter further.

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