PRESIDENT Rodrigo Duterte has reported a modest 14% hike in net worth since assuming office last year.
Duterte’s latest statement of assets, liabilities and net worth (SALN) showed that his net worth grew to P27.43 million at the end of 2016, from P24.08 million as of June 30, 2016.
The growth in the President’s net worth came from cash on hand and in banks, which increased by P3,148,768.40.
Duterte reported assets totaling P28,428,862.44, including a Volkswagen sedan acquired in 1978 for P40,000; a Toyota Rav4 acquired in 1996 for P800,000; cash of P18,453,862.44; household appliances and furniture worth P350,000; jewelry worth P300,000; investments worth P3 million; and “other personal properties” worth P1 million.
The President also listed seven residential lots and two houses in Davao City, and properties under the name of daughter Veronica including a residential lot, two houses, and two agricultural lots, also in Davao City.
Duterte disclosed P1 million in liabilities—a loan from campaign donor Samuel Uy.
Under Section 8 of Republic Act 6713 (Code of Conduct and Ethical Standards for Public Officials and Employees), public officials or employees must accomplish a statement under oath showing their assets, liabilities and net worth and financial and business interests as of year-end.
Public officials are also required to list the assets and liabilities of their spouses and unmarried children aged under 18 living in their households.