Bongbong declares P437-M net worth

MANILA, Philippines - Sen. Ferdinand “Bongbong” Marcos Jr. became the seventh senator to make public his statement of assets, liabilities and net worth (SALN) for 2012, declaring yesterday a total net worth of P437,238,356.18. 

Marcos’ net worth did not cover the settlement of the estate of his late father, former President Ferdinand Marcos.

His net worth increased by P72.85 million, owing mostly to the need to declare the acquisition costs of various properties as a result of the lessons learned during the impeachment trial of former chief justice Renato Corona.

He also pointed to the guidelines set forth in the Civil Service Commission Resolution No. 1300174 dated Jan. 24, 2013.

Apart from Marcos, those who revealed their SALNs for scrutiny of the media were Senators Francis Escudero, Loren Legarda, Ramon Revilla Jr, Teofisto Guingona III, Sergio Osmeña III and Antonio Trillanes IV.

Marcos stated in his SALN that he had to make certain adjustments on real estate investments even if the properties remain under construction or the titles are not yet in the possession of the filer.

The senator’s assets included real properties totaling P303.5-million; P10 million in cash on hand and cash in bank; nine vehicles worth P16 million; jewelry worth P15 million; paintings at P16.7 million; shares of stock at P20 million and investment in a condominium unit at Wack Wack in Mandaluyong and another unit in Ayala, Makati estimated at P85.6 million.

The senator also itemized and appraised his art collection while the properties were based on tax declaration for real property.

Marcos said his total net worth was based on the appraisal report of Cuervo Appraisers, a firm which he hired to assess his assets for the past years.

The senator’s assets rose significantly through the years as his net worth was placed P126.45 million in 2007; then P179.98 million in 2008; P315.5 million in 2009; P311.5 million in 2010; and P364.39 million in 2011.

Meanwhile, Guingona’s net worth went down by some P40 million in 2012 compared to the previous year, apparently after the senator and his wife, Ma. Victoria, incurred liabilities through surety this year.

Revilla’s total assets was placed at P251,778,835.51 and his liabilities were pegged at P82,637,448.60, making his total net worth with actress-turned-politican wife, Cavite Rep. Lani Mercado, at P169.141 million.