Is Bongbong the richest Senator?

3 May 2013
Bongbong: We're no longer involved in rights cases

Manila, Philippines --- Sen. Ferdinand R. Marcos Jr., son of the late President Ferdinand E. Marcos, reported yesterday having a net worth of P437,218,376.18 for the year 2012.

Marcos is the richest among the seven senators who have so far submitted their Statement of Assets, Liabilities and Net Worth (SALNs).

The six others who submitted their SALNs were Senators Teofisto L. Guingona III, Ramon "Bong" Revilla Jr., Antonio Trillanes, Sergio Osmeña III, Panfilo M. Lacson and Francis Escudero.
The Senate leadership told Senate reporters that it would make public the SALNs of all senators 10 days after the April 30 deadline for the filing of the SALNs with the Civil Service Commission (CSC).

In his 2012 SALN, Marcos' net worth listed personal properties amounting to P167,793,262.35, real properties worth P303, 531,886 for a total of P471,325,148.35.
But his networth amounted to P437,218,376.18 after deducting his total liabilities at P34,106,772.17 million.

Marcos' networth in 2007 was P126,4580,000.

Osmeña, on the other hand, reported in his 2012 SALN that he had real properties worth P38.77 million and personal properties valued at P115.879 million or a total asset of P115,879,000.
Deducting P4.1 million representing liabilities consisting of various loans and payables from the total assets of P115.87 million, the total networth of Osmeña comes down to P111,779,000.
Marcos said the increase in his networth from 2007 to 2012 was based on the results of the issues raised in last year's Senate impeachment proceedings against then Supreme Court Chief Justice Renato C. Corona as well as the guidelines set forth in CSC Resolution no. 1300174 dated Jan. 24,2013.

These are: the acquisition cost of the various properties have been included; various real estate investments have been included (even if the same are still untitled or under construction); the various paintings belonging to the declarant have been itemized and appraised; the declarant's spouse signed the SALN; and the value of the various properties were based on the Tax Declaration of Real Property

Marcos pointed out that his total networth of P437.2 million was based on the October 2012 appraisal report of Cuervo Appraisers, a reputable appraisal firm used by him in the previous years.

His networth in 2008 was P179.98 million; 2009 - P315.5 million; 2010 - P311.5 million; and 2011 - P364.39 million.