Leni Robredo

Robredo’s net worth grows to P3.5 million in 2019

Mara Cepeda

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Robredo’s net worth grows to P3.5 million in 2019

Vice President Leni Robredo lists ways to help save the economy from COVID-19 in a Facebook video on August 24, 2020. Screenshot from Robredo's Facebook page

(UPDATED) This is the second time Vice President Leni Robredo's wealth increased since she took office in June 2016

The net worth of Vice President Leni Robredo rose to P3.5 million in 2019, the second time her wealth increased since she was elected into office. 

The Vice President declared a net worth of P3,539,478 in her Statement of Assets, Liabilities, and Net Worth (SALN) for 2019, a copy of which Rappler requested from her office. 

The amount is bigger by around P1.2 million than Robredo’s 2018 net worth of P2,314,430. This is due to the increase in her cash on hand, which grew from P7,351,430 in 2018 to P8,576,478 last year. 

The rest of the Vice President’s personal properties cost the same as in 2018. The cost of her furniture, appliances, and other equipment was at P1.5 million, jewelry at P100,000, and prepaid insurance at P655,000.

Robredo also owns two vehicles: a Toyota Innova that cost P1.123 million and a Toyota Grandia worth P1.75 million.

Robredo’s 8 properties in her hometown Naga City in Bicol still have a total value of P1.735 million.

As for her liabilities, the Vice President has loans payable worth P11.9 million, the same amount she reported in 2018.

She also reported having P95,000 worth of shares of stock at the Manila Electric Company.

This is the second time the Vice President’s wealth increased since June 2016, as her net worth dipped at the end of that year and further decreased in 2017.

She reported the biggest decrease in 2017, after the Supreme Court required her to pay fees in relation to her counterprotest to the electoral case filed against her by defeated vice presidential bet Ferdinand “Bongbong” Marcos Jr.

Still, the rise in Robredo’s wealth in 2019 is more modest compared to the spikes in the net worth of other officials in the past years under President Rodrigo Duterte’s administration.  

The wealth of 7 legislators increased by more than 100% between 2017 and 2018, with a congresswoman representing farmers topping the list. AGRI Representative Delphine Lee declared a net worth of P254.308 million in 2018, a 406.25% increase from her wealth in 2017.

Philippine Center for Investigative Journalism (PCIJ) report also showed sharp increases in the President’s net worth and that of his two children – Davao City Mayor Sara Duterte and Davao City 1st District Representative Paolo Duterte – since they joined politics up to 2017.

The PCIJ said Duterte’s SALNs  showed his wealth nearly tripled to P28.54 million across a 10-year period, his daughter Sara’s net worth grew more than 6 times to P44.83 million, and Paolo’s wealth more than tripled to P27.74 million.

The Office of the Ombudsman – which usually publicizes the SALNs of the President, Vice President, and heads of constitutional bodies – has since made it difficult to access information about the officials’ wealth.

Like in previous years, Rappler requested for the SALNs of the President, Vice President, and members of constitutional bodies through the Office of the Ombudsman. Rappler also sent a separate SALN request to Robredo’s office, which it immediately granted. – Rappler.com

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Mara Cepeda

Mara Cepeda specializes in stories about politics and local governance. She covers the Office of the Vice President, the Senate, and the Philippine opposition. She is a 2021 fellow of the Asia Journalism Fellowship and the Reham al-Farra Memorial Journalism Fellowship of the UN. Got tips? Email her at mara.cepeda@rappler.com or tweet @maracepeda.