PNoy’s Latest SALN Reveals Drop of Net Worth

President Aquino’s net worth in 2012 decreased as reflected in his latest statement of assets, liabilities and net worth (SALN).

In 2011, the President’s net worth is P65, 130, 264. As of December 31, 2012 it lower down into P65, 128, 604, stating a decrease of P1,660.

In a report, according to deputy presidential spokesperson Abigail Valte, the slight decrease is due to his sale of his 2005 Ford Everest, which was sold at a price lower than the acquisition cost.

The value of his motor vehicles also decreased to P3 million from P4.2 million in 2011, including the value of his 2007 Land Cruiser. The Porsche which he acquired in 2011 was already sold.

With the decrease of his personal property comes the increase of his cash assets due to interest. In 2011 he has P26,215,001 in the bank which grew to P27,413,341 in 2012.

However, his personal proterties branded as “other assets” haven’t change being valued at P2 million. And also, his real properties remained at P32, 162, 434 for total acquisition cost.

In 2010, President Aquino declared his SALN at P54.999 million. With his inheritance transfer which was completed in 2011, he became richer by P10.130 million in the same year.

Source: abs-cbnnews.com, philstar.com