The presidential aspirants for the 2022 Elections, naming Ping Lacson, Ferdinand “Bongbong” Marcos, Jr., Isko Moreno, Manny Pacquiao, and Leni Robredo, are required to release their Statement of Assets, Liabilities, and Net Worth (SALN) for the public.
A SALN is an official/employee’s declaration of assets and liabilities, including business and financial interests, of his or her spouse, and of his or her unmarried children under 18 years old still living in their parents’ households.
Under Article XI Section 17 of the 1987 Constitution and Section 8 of Republic Act No. 6713, the “Code of Conduct and Ethical Standards for Public Officials and Employees,” the submission of a SALN is required from all public officials and employees.
Amongst the candidates, Senator Manny Pacquiao carries the biggest amount of assets with a total of P3,537,166,877, the biggest amount of liabilities of P350,074,276, and the most net worth with a total of P3,187,092,601, making him the richest presidential candidate and the only billionaire among the candidates.
Pacquiao is followed by Senator Former Senator Bongbong Marcos in number, P231,645,581 in assets, P20,567,669 in liabilities, and P211,077,912 in net worth. His assets included a vast number of real properties, jewelry, and vehicles, as well as “shares of stocks/securities” and listed business interests with holding companies, even declaring his ownership of 67 paintings from renowned artists.
Initially, Marcos made a statement on Monday, regarding his refusal to publicize his SALN, commenting that he doesn’t see any reason why he should make his SALN public if it would be used for political attacks regardless if he gets elected as president in the upcoming elections.
Marcos then clarified on the same day that he is “perfectly willing” to release his SALN, reiterating his promise from last year that he would make his SALN public.
Not much is known about Manila Mayor Isko Moreno’s assets and liabilities given that a notarized authorization from the mayor’s office must be made for its release from the Office of the Ombudsman, but it is said that his estimated net worth is around P70,000,000.
Moreno admitted to keeping some P50.8 million in leftover campaign funds from his failed Senate run in 2016. According to Moreno, he did not violate any laws by keeping the excess funds given that they were campaign contributions from various donors.
Coming as the second “poorest” presidential candidate is Senator Ping Lacson, with assets at P58,791,069, liabilities at P460,800, and net worth at P58,330,269.
Lacson declared that his assets included “assorted firearms” as well as cash on hand/bank worth and motor vehicles.
The senator is then followed by Vice President Leni Robredo, whose assets are in a total of P23,804,280, liabilities at P11,900,000, and net worth of P11,904,280.
A year after her successful campaign for the vice presidency in 2016, her net worth plummeted primarily due to the “partial counter-protest fee deposited with PET” or the fee she paid to the Presidential Electoral Tribunal in relation to the electoral protest case that Bongbong Marcos filed against her. Since then, Robredo’s net worth gradually increased.
The filing of the SALN includes a waiver authorizing the Ombudsman or his authorized representatives to obtain documents that may show assets, liabilities, net worth, business interests, and financial connections from all appropriate government agencies.
