Vice President Robredo's net worth at P3.5 million in 2019

Davinci Maru, ABS-CBN News

Posted at Sep 15 2020 06:54 PM

Vice President Leni Robredo. OVP, Handout

MANILA - Vice President Leni Robredo's net worth increased to P3.5 million in 2019, according to her latest Statement of Assets, Liabilities and Net Worth (SALN).

Robredo reported a P1.2 million uptick in her net worth from P2.3 million in 2018, the second time she posted an increase in her wealth since she took office in 2016.

Based on her SALN, a copy of which was obtained by ABS-CBN News, the increase can be attributed to the growth in her personal properties. 

Robredo declared that her cash on hand rose from P7,351,430 in 2018 to P8,576,478 in 2019.

The value of her other personal properties remained unchanged in her latest SALN. These are furniture, appliances and other equipment worth P1.5 million; jewelry worth P100,000; prepaid insurance worth P630,000; a Toyota Innova acquired in 2010 worth P1,123,000; and a Toyota Grandia acquired in 2014 worth P1,750,000.

Meanwhile, Robredo reported having the same 8 real properties in her hometown Naga City, Camarines Sur with a total value of P1.735 million.

Robredo’s liabilities, on the other hand, remained at P11.9 million due to loans. The bulk of her “loans payable” are owed to 4 people, each with a P2-million loan by the Vice President: The estate of Jose Robredo, Jocelyn Austria, Vicente Hao Chin, Jr., and Rafael Bundoc. She also owed P1 million to a certain Pablito Chua.

Two of the creditors listed in Robredo’s 2019 SALN were among her contributors in the 2016 elections, when she ran for vice president. 

According to her 2016 Statement of Contribution and Expenditures, a certain Pablito Chua and Vicente Hao Chin Jr. were her campaign contributors who donated P2 million and P2.5 million, respectively, to her 2016 vice presidential bid. 

Rafael Bundoc, meanwhile, is Robredo’s brother-in-law who works at UP-PGH Manila, as declared in her 2019 SALN.

In her latest SALN, Robredo also declared P95,000 worth of shares of stocks at Meralco, which was acquired in "different years."

It was only in 2017 when her net worth had a sharp decline due to expenses she incurred in connection with the electoral protest case lodged against her by former Sen. Bongbong Marcos on the 2016 vice presidential race.

A vice president is under salary grade 32, which is equivalent to a monthly pay of a maximum of P353,470, according to the Department of Budget and Management (DBM).

Robredo’s net worth has been growing by an annual average of 13 percent over the last 7 years since 2013, when she was representative of the 2nd District of Camarines Sur.

The deadline for filing of the SALN is April 30 of every year. However, this year, the deadline was extended until August 31 per Civil Service Commission Memorandum Circular No. 13 s. 2020, due to the "national state of public health emergency brought by the COVID-19."

The ABS-CBN Investigative and Research Group requested a copy of the Vice President’s 2019 SALN from the Office of the Vice President on Sept. 11, 2020. The OVP sent ABS-CBN a copy of the Vice President’s 2019 SALN last Sept. 14.

Last Aug. 28, the ABS CBN IRG initially filed a SALN Request Form and a letter of request with the Office of the Ombudsman for a copy of the 2019 SALNs of President Rodrigo Duterte and Vice President Robredo. 

Yesterday, Sept. 14, the Central Records Division of the Office of the Ombudsman informed ABS-CBN News that all requests for a copy of the President’s SALN are still being reviewed by Ombudsman Samuel Martires’ office.

ABS-CBN News has yet to file a request for President Rodrigo Duterte’s 2019 SALN with the Office of the President.

The Office of the Ombudsman on Tuesday released new guidelines limiting public access to SALNs. 

- With a report from the ABS-CBN Investigative and Research Group