President Benigno Aquino 3rd’s wealth increased by P1.8 million last year, his latest Statement of Assets, Liabilities and Net Worth (SALN) showed.
In his 2014 SALN, the President declared a net worth of P68,311,644, all coming from his real and other personal assets.
This is higher than the P66, 494,183 million net worth he declared for 2013.
The increase in Aquino’s wealth primarily came from a new residential lot in Antipolo City, east of Manila.
In 2014, the President said he inherited the lot, which has an acquisition cost of P507,393.
His SALN showed the President does not have any liabilities.
Malacanang deputy spokesman Abigail Valte on Monday said the increase in the President’s assets “is attributable to the President’s salary, interest income and a 1/5 share from property inherited from the Sumulong side of his family.”
”The title of the inherited property had to be reconstituted via court proceeding, which ended in 2014. Only then could it [be] pass[ed]to the heirs,” Valte added.
Aquino’s cash on hand and in banks also rose from P28.78 million in 2013 to P30.09 million in 2014.
The President declared a P54.9-million net worth in 2010, which increased to P65.130,264 in 2011.
In 2012, his SALN was slightly lower at P65,128,604 million.
Aquino’s assets are mostly pieces of real estate property, including three residential lots and a house, a commercial lot and two agricultural lots.
He does not have any liabilities.
The country’s President is mandated by law to get a monthly salary of P120,000.
Under Republic Act 6713 or the Code of Conduct and Ethical Standards for Public Officials and Employees, all public officials and employees are required to declare under oath their assets, liabilities, net worth and financial and business interests as of December 31 of the preceding year.
The SALN must be filed on or before April 30 of every year.