Duterte richer by P13.2 million at end of term

MANILA, Philippines —  By the time he stepped down from the country’s top post in 2022, former president Rodrigo Duterte’s declared net worth stood at P37.305 million, making him P13.225 million richer than when he assumed office in 2016, according to his statements of assets, liabilities and net worth (SALNs) obtained by The STAR from the Office of the Ombudsman.

Based on Duterte’s entry SALN filed with the ombudsman on Aug. 16, 2016, he started the presidency on June 30, 2016 with a net worth of P24.080 million,
 composed of P25.180 million in total assets as against P1.1 million in liabilities in the form of a “personal loan” from Davao-based businessman Samuel Uy.

The former president’s assets then included P4.485 million in real properties, composed of four residential house and lots, eight residential lots, and two agricultural lots all in Davao City.

His assets also included P20.695 million in personal properties which included a Volks Sedan worth P40,000 acquired in 1978, a Toyota Rav 4 worth P800,000 acquired in 1996, cash on hand and in bank amounting to P15.305 million, household appliances and furniture worth P350,000, jewelry worth P300,000 and investments amounting to P3.9 million.

Six months later, or as of Dec. 31, 2016, Duterte’s net worth grew to P27.428 million, an increase of P3 million from his declared net worth in his entry SALN, owing to his higher cash on hand and in bank amounting to P18.453 million.

Year-on-year, Duterte’s net worth grew, mainly due to the increase in the value of his personal properties, especially his cash on hand and in bank. The value of his real properties stayed the same as he made no new acquisition in his six years in office.

As of Dec. 31, 2017, Duterte’s net worth was at P28.540 million, due to the increase in his cash on hand/bank to P19.365 million.

By the end of 2018, Duterte’s net worth stood at P31.062 million, again, owing to the increase in his cash on hand/bank to P20.587 million. Duterte also declared “other personal properties” amounting to P4 million from just P1.5 million in the previous year.

Duterte’s net worth grew to P33.657 million by the end of 2019 as his cash on hand and in bank increased to P23.682 million and his “other personal properties” increased to P5 million.

In 2020, Duterte’s net worth was at P36.091 million, due to an increase in his “other personal properties” to P8 million. His cash on hand and in bank decreased to P21.616 million, but so did his liabilities or personal loan from Uy to P1.5 million from P3 million in the previous year.

By the end of Duterte’s last full year in office in 2021, his net worth grew to P38.744 million. This was due to increases in the value of his “other personal properties” to P10 million and in his cash on hand and in bank to P22.269 million. His liabilities, in the form of a personal loan from Uy, remained at P1.5 million.

In his exit SALN filed with the ombudsman on July 29, 2022 or after a month since the end of his term on June 30, 2022, Duterte declared a net worth of P37.305 million, composed of P38.805 million in total assets as against his total liabilities of P1.5 million, in the form of personal loan from Uy.

The P1.439-million decrease in his net worth can be traced to five real properties totaling P3.08 million, declared in his 2021 SALN but were no longer declared in his exit SALN. Meanwhile, his cash on hand and in bank increased to P23.910 million as of June 30, 2022 from P22.269 million as of end of 2021..