Aquino richer by P1.8M in 2014

This is AI generated summarization, which may have errors. For context, always refer to the full article.

Aquino richer by P1.8M in 2014
Aquino declares a net worth of P68 million, all coming from his real and other personal assets. He has been liability-free since 2011.

MANILA, Philippines (UPDATED) – President Benigno Aquino III’s wealth increased to P68.31 million in 2014, higher by about P1.8 million than what he declared in his Statement of Assets, Liabilities and Net Worth (SALN) the year before that.

In his 2014 SALN, Aquino declared a net worth of P68,311,644, all coming from his real and other personal assets. In 2013, Aquino declared a P66.49-million net worth, again all coming from his assets.

Aquino has been liability-free since 2011.

Contributing to the increase in Aquino’s wealth is a new residential lot in Antipolo City in his real assets. In 2014, he inherited the lot, with an acquisition cost of P507,393.

Aquino’s cash on hand and in banks also increased from P28.78 million in 2013 to P30.09 million in 2014.

Below is Aquino’s SALN since he assumed the presidency in 2010:

 2010  2011 2012 2013 2014
Residential house and lot in Quezon City (inherited in 1984 and 2010) P14,221,469   P24,310,760   P24,310,760   P24,310,760   P24,310,760  
Commercial lot in San Juan City (inherited in 2010) P7,016,906   P7,016,906   P7,016,906   P7,016,906   P7,016,906  
Residential lot in Tarlac City (purchased in 1997) P718,200   P718,200   P718,200   P718,200   P718,200  
Agricultural land in Tarlac City (purchased in 1987) P113,750   P113,750   P113,750   P113,750   P113,750  
Agricultural land in Capas, Tarlac (inherited in 1979) P2,818   P2,818   P2,818   P2,818   P2,818  
Residential land in Antipolo City (inherited in 2014) –  –  –  –  P507,393  

Motor vehicles
P8,700,000   P4,200,000   P3,000,000   P3,000,000   P3,000,000  

Cash on hand and in banks
P6,223,704   P26,215,001   P27,413,341   P28,778,920   P30,088,988  

P17,031,484   P552,829   P552,829   P552,829   P552,829  

Other assets 
P1,200,000   P2,000,000   P2,000,000   P2,000,000   P2,000,000  

Tax payables
(P228,961)   –   –   –   – 
NET WORTH P54,999,370  P65,130,264  P65,128,604  P66,494,183  P68,311,644 

The President receives a salary of P120,000 per month.

In a statement released Monday afternoon, Malacañang attributed the increase “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 pass to the heirs,” said Deputy Presidential Spokesperson Abigail Valte.

The deadline of filing of annual SALN was on April 30. Aside from Aquino, Vice President Jejomar Binay and heads of constitutional offices are required to file their SALNs with the Ombudsman’s central office. – with a report from Janina Lim/

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI

How does this make you feel?

Download the Rappler App!