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Duterte’s net worth rose by P1.35M in 2014

by: July 8, 2015 5:08 pm Category: Top Stories A+ / A-

DAVAO CITY (MindaNews / 8 July) – Mayor Rodrigo Duterte’s net worth grew by P1.35 million last year, his Statement of Assets, Liabilities and Net worth (SALN) showed.

Duterte, in his sworn SALN, declared assets worth P22,971,732.62 for 2014 while his liabilities remained at P1 million. This figure is higher than the P21,618,289.73 total assets he declared for 2013.

Meanwhile, his son Paolo, the vice mayor, only had a P100,000 increase in his net worth with assets totalling P24.287 million.

The growth in Mayor Duterte’s wealth largely came from more cash on hand and in banks which added up to P13,846,732.62 for the year 2014. He declared cash amounting to P12,993,289.73 for this particular item in his SALN for the year 2013.

Duterte earns P78,946 monthly since he is a government official with a Salary Grade 30 under the Salary Standardization Law, which is similar to the income level of a governor as prescribed by the Civil Service Commission.

In an interview, Duterte said that his wealth includes allowances from different councils that he headed, which includes Watershed Management Council, Regional Peace and Order Council, City Peace and Order Council, Investment Incentive Board, and Public Private Partnership Board.

He also declared in his SALN that he acquired a piece of agricultural land in Catigan, Toril worth P500,000 last year.

For his real properties, Duterte has P1.7-million worth of residential lots and P1.7 million agricultural lands.

The city mayor declared as personal properties vehicles worth P1.1 million, household appliances and furniture worth P450,000, jewelry worth P300,000, and investments worth P3.8 million. These items were already declared in his 2013 SALN.

As part of his business interests, he has served as incorporator of Honda Cars in General Santos City since 1997 and Poeng Yue Foundation in San Pedro, Davao City in 2012.

Duterte’s relatives in the government service include his son Vice Mayor Paolo Z. Duterte; daughter-in-law January Duterte, Barangay Catalunan Grande chief; brother Benjamin R. Duterte as his private secretary; nephew Wilfrido D. Villarica as administrative officer of the city council; and Justice Agnes Reyes Carpio, mother of lawyer Mans Carpio, husband of daughter Sara Duterte-Carpio.

Paolo Duterte’s assets, meanwhile, reached P24.287 million from 2013 to last year following the increases on his cash on hand or bank, according to his latest sworn SALN.

His cash on hand or bank increased to P6 million last year from P3.5 million in 2013. His assets, which hiked from P21.837 million in 2013, were combined with his wife January, who is also president of the Association of Barangay Captains (ABC).

As January serves as head of the ABC, she gained a seat in the city council with annual salary of P752,040 as cited on the data from the City Accountant Office. Paolo’s annual income, meanwhile, stood at P812,208.

The recent SALN of the vice mayor showed that the worth of his household appliances and furniture was P50,000 lower than the previous year’s P350,000. His other personal properties such as vehicles, investments and jewelries remained at P3.715 million, P850,000 and P400,000, respectively.

The vice mayor’s real properties include P12.8-million worth of residential lots and P200,000 worth of agricultural lands. These are located in Ecoland, Quezon Boulevard, Catalunan Grande, Malagos and Matina.

Duterte’s liabilities also grew to P7 million last year from P4.7million the previous year. As of last year, he owed debts to creditors Jaime Uy Jr., Philippines Savings Bank and Nestor Du Ma as he managed to have personal loan and home credit line.

This attributed on why Duterte’s net worth, which is composed of total assets less liabilities, was only P17.287 million last year, which is just P100,000 higher than the previous year.

Paolo was formerly barangay chairman of Catalunan Grande and president of ABC. When he was still the association’s representative to the city council, he was considered as the richest lawmaker with net worth of P20.4 million as of 2012 based on records from Sangguniang Panlungsod.

The younger Duterte also managed to have business interests such as serving as incorporator of Grand MD Business Development Corp. since 2007, shareholder of Jolly General Foods Corp. in 2007 and stockholder of Server Cuisine Corp., which is based in Sta. Rosa, Laguna, in 2006.

He likewise became proprietor of a boarding house in 2009, incorporator of Manila-based Chinese Gen Bee Foods Corp. in 2013, proprietor of Long Water and Long Tuna in 2014.

Duterte’s net worth rose by P1.35M in 2014 Reviewed by on . DAVAO CITY (MindaNews / 8 July) – Mayor Rodrigo Duterte's net worth grew by P1.35 million last year, his Statement of Assets, Liabilities and Net worth (SALN) s DAVAO CITY (MindaNews / 8 July) – Mayor Rodrigo Duterte's net worth grew by P1.35 million last year, his Statement of Assets, Liabilities and Net worth (SALN) s Rating: