VP Robredo’s net worth rose by P1.2 million in 2018

Kia Obang, ABS-CBN Investigative & Research Group

Posted at Jul 06 2019 02:12 AM | Updated as of Jul 06 2019 02:26 AM

Vice President Maria Leonor "Leni" Robredo’s net worth rose to P2.31 million in 2018 from P1.1 million in 2017—an increase of P1.2 million due to increases in her personal properties.

Based on the vice president’s Statement of Assets, Liabilities and Net Worth (SALN) as of Dec. 31, 2018, the increase in her personal properties was due to an additional P1.18 million in “cash” and P25,000 worth of “prepaid insurance” compared to 2017. 

The value of her real properties remained unchanged since 2013 at P1.74 million. Her declared liabilities of P11.9 million meanwhile, remained unchanged since 2017. 

 

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

Her net worth had a sharp decline in 2017, when it decreased to P1.11 million from the P8.88 million she declared in 2016 due to the “partial counter-protest fee deposited with PET” [Presidential Electoral Tribunal], according to a note in her 2017 SALN. This was in relation to the electoral protest case lodged against her by former Senator Bongbong Marcos on the 2016 vice presidential race. The case is still pending before the Supreme Court, sitting as PET. 

Her “cash” decreased by P2.76 million while her liabilities increased by P5 million that year compared to 2016. 

The ABS-CBN Investigative and Research Group obtained Robredo’s SALN from the Office of the Vice President after the Office of the Ombudsman—the official repository of the SALN of the President, Vice President, and Chairperson and Commissioners of Constitutional Commissions—held SALN requests “in abeyance” pending a “review and revision” of its policies on the release of SALNs. 

The SALN is a declaration under oath of a public official or employee’s assets, liabilities and net worth, as well as financial and business interests including those of the spouse and unmarried children below 18 years who are living in the same household. All public officials and employees, whether regular or temporary, are required by law to submit their SALNs annually.

Through the SALN, the public can track sudden changes in the wealth of public officials and identify real and potential conflicts of interest. The SALN is supposed to be a tool through which public officials can show that they have not used their positions to enrich themselves.