Financial statements reveal senior senators getting richer

Amid the backdrop of a looming fiscal crisis and worsening economy, most senior members of the Senate still end up being wealthier based on their declared statements of assets and liabilities (SALs).

In the summary of their SALs the seniors lawmakers have submitted to the Office of the Secretary of the Senate, Sen. Manuel Villar Jr., still topped the list of the richest among the crop.

Villar has acquired a dramatic increase of roughly P50 million in his wealth covering a period of one year as a member of the Senate covering the 12th and the present 13th Congress.

Records showed Villar’s total net worth has increased from P481,550,874 in 2002 to P531,225,348 in 2003.

Although Villar’s real properties has decreased from P5,844,819 in 2002 to P4,588,619 in 2003, his personal assets increased from P475,706,055 in 2002 to P526,636,729 in 2003.

A former Las Piñas representative who actively engaged in the real estate business, Villar registered zero liability in 2002 to 2003.

Administration Sen. Ralph Recto also enjoyed an increase of roughly more than P3 million in his fortune totaling to P232,499,421.98 in 2002 to P236,219,412.58 in 2003.

Recto, married to movie actress-turned-Lipa City Mayor Vilma Santos, had P13,622,310 in real properties in 2002.

Records showed his real estate assets increased to P38,622,310 the following year.

However, Recto’s personal and other assets have decreased from P228,850,071.98 in 2002 to P198,489,902.58 in 2003.

At one time, Recto’s liability dramatically decreased from P9,972,960 in 2002 to P892,800 in 2003.

Another administration lawmaker, Sen. Ramon Magsaysay Jr. came in third.

Magsaysay has maintained his P31,096,108 worth of real properties in year 2002 and 2003. His personal assets have increased from P109,293,821.63 in 2002 to P118,981,486.58 in 2003.

In a year’s time, Magsaysay was able to dramatically decrease his liability from P140,389,929.63 in 2002 to P6,556,535 the following year.

Neophyte lawmaker Sen. Jamby Madrigal landed as the fourth richest member of the Senate.

Madrigal, whose clan is engaged in the shipping business, registered a total net worth of P118,088,796 in her 2003 SAL.

The records showed Madrigal’s real properties have totaled to P37,089,236 while her declared personal and other assets amounted to P84,944,970, thus earning for herself the slot of being the richest among the eight neophyte senators elected in the last May 10 elections.

Madrigal’s total liability ran up to P3,945,410.

Another freshman lawmaker, Sen. Ramon "Bong" Revilla Jr. came in as the fifth richest member of the Senate, and second behind Madrigal in the batch of newcomers.

Revilla filed his SAL showing he has a total net worth of P102,317,000.

The former Videogram Regulatory Board (VRB) chairman and Cavite governor is more than P50 million richer than his father, former senator Ramon Revilla Sr.

The younger Revilla declared that he has only P13,511,000 liability.

Returning Sen. Juan Ponce Enrile came in as the sixth richest member of the Senate.

Enrile, whose primary business is manufacturing of matches, submitted his SAL showing he has a total net worth of P 95,226,533.

Although a multi-millionaire in his own right, Enrile declared that he only owned P1,000 worth of real properties.

Enrile’s personal and other assets totaled to P95,225,533 and declared he has zero liability.

Neophyte Sen. Jose "Jinggoy" Estrada, son of detained former President Joseph Estrada and co-accused in the plunder case before the Sandiganbayan, is the seventh richest senator.

Estrada declared in his SAL that he has a total of P80,414,556.01 worth of assets.

The former San Juan mayor is a little less than P50 million richer compared to his mother and fellow lawmaker Sen. Luisa Ejercito who declared her total net worth at P33,800,411.08.

Estrada’s real properties totaled to P67,929,736.09 and his personal assets amounted to P14,084,819.75. He declared his liability at P1,599,999.83.

Neophyte Sen. Pia Cayetano, daughter of the late senator Renato Cayetano, is the eight richest member of the Senate with a declared total net worth of P70,142,052.54.

Cayetano, who earned the distinction as the fourth richest neophyte lawmaker following Estrada, declared she has real properties amounting to P28,080,000 and personal assets totaling P63,561,195.

Cayetano declared she has P21,499,142.46 in liabilities.

Veteran lawmaker Sen. Miriam Defensor-Santiago is the ninth richest senator.

Santiago, who ran under the administration coalition in the last elections, declared her total net worth at P67,500,000.

Santiago has real properties worth P45,950,000 and P21,550,000 in personal assets.

The veteran lawmaker who made a comeback in the political scene declared she has no liability.

Down To The Poorest

Completing the list of 10 richest senators in the 13th Congress is opposition Sen. Sergio Osmeña III.

Osmeña declared in his SAL that he has increased his total net worth from P46,724,702 in 2002 to P53,202,702 in 2003.

Osmeña, chairman of the Senate committee on banks and intermediaries during the 12th Congress, maintained his real properties worth P23,816,702 in 2002 up to the following year.

But his personal and other assets increased from a total of P31,429,000 in 2002 to P36,972,000.

Osmeña has slightly decreased his liability from P8,521,000 in 2002 to P7,586,000 last year.

Ejercito landed as the 11th richest senator who declared a total net worth from P33,388,342.59 in 2002, increasing to P33,800,411.08 in 2003.

Ejercito maintained her real properties at P9,000,000 but her personal assets slightly increased from P143,696,311.60 in 2002 to P147,118,407.02 last year.

The lady lawmaker, however, increased her liabilities from P119,307,969.01 in 2002 to P122,228,544.34 in 2003 with an adjustment of P89,451.50.

Former Trade Secretary Manuel Roxas II who topped the May 10 senatorial elections this year, ended up as the 12th richest senator with a declared total net worth of P31,777,603.13.

Roxas declared the total worth of his real properties ran to P25,966,800 while his personal and other assets amounted to P90,378,691.

The former Capiz congressman also declared he has P60,564,803 in liability.

Sen. Edgardo Angara, leader of the mainstream opposition party Laban ng Demokratikong Pilipino (LDP), is the 13th richest senator of the country.

Angara declared he has decreased his total net worth from P25,186,905.72 in 2002 to P25,718,896.69 in 2003.

But Angara’s real properties slightly increased from P11,461,185.26 to P11,148,206.13.

Angara’s personal assets also slightly increased from P17,550,754.56 in 2002 to P17,638,993.74 in 2003. Angara also declared he has a total liability of P3,068,303.18.

Neophyte Sen. Richard Gordon, the former secretary of the Department of Tourism, is the 14th richest senator with a declared total net worth of P23,684,991.

Gordon said he has real properties worth P35,272,417 while his personal assets total P8,743,187.

Gordon declared he has still P20,330,613 to pay up in liability.

Sen. Panfilo Lacson, who ran but lost in last May 10 presidential elections, declared he has decreased a total net worth from P23,585,874 in 2002 to P23,469,334 in the following year.

Lacson has maintained P3,010,000 worth of real properties in year 2002 and in 2003. His personal assets ran to P23,545,000 in 2002 and slightly decreased the following year to P22,878,524.

Lacson declared his liabilities slightly decreased from P2,969,126 in 2002 to P2,419,190 in 2003.

Re-elected Sen. Rodolfo Biazon is the 16th richest member of the Senate.

Biazon declared a slight increase in his total net worth from P21,246,000 in 2002 to P22,722,000 in 2003.

He also declared the worth of his real properties was just the same at P16,216,000 in 2002 and 2003.

Biazon also said the worth of his personal assets was just constant at P14,820,000.

At 17th, Senate Majority Leader Francis Pangilinan declared a slight decrease of his total net worth from P16,016,012 in 2002 to P15,859,762 the following year.

Pangilinan, who is married to popular singer actress Sharon Cuneta, declared he has maintained the value of his real properties worth 7,647,376 in the year 2002 and 2003.

Pangilinan also declared his personal assets slightly decreased in value from P8,672,344 in 2002 to P8,467,344 in 2003.

His counterpart, Senate Minority Leader Aquilino Pimentel Jr. registered a slight decrease in his total net worth.

Pimentel declared a decrease in his total net worth from P15,902,400 in 2002 to P14,849,913.93 in 2003, still qualifying him as the 18th richest member of the Senate.

Pimentel said his real properties are still at the same worth, a total of P3,716,000 in year 2002 and 2003. But he declared his personal assets decreased from P12,186,400.51 in 2002 to P12,003,256.93 the following year.

On the other hand, Senate President Franklin Drilon declared a slight increase in his total net worth from P12,599,629.47 in 2002 to P12,974.762.75 in 2003, placing him in the 19th spot in terms of wealth.

Drilon maintained real properties worth P11,556,200.55 in year 2002 and 2003.

The Senate leader declared his personal assets slightly decreased from P9,091,927.92 in 2002 to P8,934,561.20 in 2003.

Drilon added his liabilities likewise decreased from P8,048,499 in 2002 to P7,515,999 in 2003.

Placing 20th in the list of wealthy senators is former Makati congressman Joker Arroyo who declared a total net worth of P11,050,000 for the 2002 and 2003.

Arroyo said his real properties maintained a total value of P3,150,000 while his personal assets also did not budge at P7,900,000 in the year 2002 and 2003.

Arroyo likewise declared he has no liability.

Former police general and Manila mayor Alfredo Lim took the 21st slot of the Senate millionaires club declaring in his SAL a total net worth P10,550,207.

Lim declared P8,500,000 worth of real properties while his personal assets are worth P2,050,207. He declared he has no liability.

Former Pampanga governor Lito Lapid landed the 2nd poorest member of the Senate with P9,684,662 of total net worth.

Lapid declared his real properties are worth P16,161,300 while personal and movable assets are pegged at P4,523,362.

Records showed Lapid has still to pay up a total of P11,000,000 in liability.

The poorest lawmaker from the time that he started serving as member of the Senate up to the present is Senate President Pro Tempore Juan Flavier.

Although he was able to maintain his slot as the poorest among the senators, Flavier has improved his total net worth from P1,179,176 in 2002 to P2,025,000 in 2003.

The former rural doctor has also increased his real property value from P430,000 in 2002 to P840,000 in 2003.

Flavier declared the worth of his personal assets has maintained at P1,585,000 covering the 2002 and 2003.

Flavier’s liability likewise decreased from P835,824 in 2002 to P400,000 in 2003.