Rich to Richest
In the latest release of the legislators' Statement of Assets and Liabilities, Sen. Manuel Villar Jr. and Rep. Cynthia Villar (Las Piñas Lone District) were still the wealthiest legislators in 2005 with a net worth of P759.8 million (all assets, zero liabilities). Their net worth, coming almost entirely from investment in shares of stocks and other real and personal properties, was 22% higher than the previous year. Sen. Villar has been the richest senator since 2001.
RA 6713 or the Code of Conduct and Ethical Standards for Public Officials and Employees requires public officials to file a statement of assets and liabilities and net worth annually. The Code also requires government officials to disclose business interests, financial connections, and relatives in government service.
Next to Sen. Villar were Senators Ralph G. Recto (P267.3 million), Ramon B. Magsaysay, Jr. (P150.8 million), Ma. Ana Consuelo “Jamby” A. S. Madrigal (P114.1 million), and Ramon B. Revilla, Jr. (P99.4 million). Those with the lowest net worths were Senators Juan M. Flavier (P3.4 million), Alfredo S. Lim (P10.8 million), Manuel M. Lapid (P10.9 million), Aquilino Q. Pimentel, Jr. (P10.9 million), and Joker P. Arroyo (P11 million).
Sen. Luisa Estrada had the most liabilities (P169.5 million), almost equivalent to the total liabilities of the rest of the senators (P173.3 million).
At the House of Representatives, Rep. Cynthia Villar was followed by Reps. Iggy T. Arroyo (Negros Occidental 5th District), P287.4 million; Judy Syjuco (Iloilo 2nd District), P255.1 million; Ferjenel G. Biron, M.D. (Iloilo 4th District), P217.5 million; and Rafael P. Nantes (Quezon 1st District), P117.4 million.
Rep. Villar and her husband are shareholders of various real estate companies. Rep. Iggy Arroyo, brother of First Gentleman Miguel Arroyo, holds positions in several companies engaged in real estate and agriculture including LTA, Inc. and JJ Agricultural Corp. Rep. Syjuco’s properties include various houses, lots, and condominium in Iloilo, Wack Wack Twin Towers, Forbes Park, and Tagaytay Woodlands. She and her husband, former Rep. Augusto Syjuco, are shareholders in several real estate, brokerage, investment, and food and beverage companies. Rep. Biron owns houses and lots in Valle Verde in Pasig and several others in San Juan, Antipolo, Rizal and Iloilo City. His SAL indicated “receivables” worth P51.3 million. Rep. Nantes owns residences and agricultural lands mainly in Marikina and Polillo, Quezon. He also acquired seven luxury vehicles including two Ford Expeditions and a Toyota Land Cruiser. He owns two passenger boats.
At the lower end of the SAL scale were Party-list Representatives Rafael V. Mariano (Anakpawis), P18,537.12; Joel G. Virador (Bayan Muna), P57,500.00; Crispin B. Beltran (Anakpawis), P85,000.00; Teodoro A. Casiño (Bayan Muna), P307,900.00; Satur C. Ocampo (Bayan Muna), P372,589.41; Mujiv S. Hataman (Anak Mindanao), P690,000.00; and Mario ”Jojo” Aguja (Akbayan), P740,080.00. The other two who posted the lowest declared net worth are Reps. Hermilando I. Mandanas (Batangas 2nd District), P112,652.00; and Benjamin C. Agarao, Jr. (Laguna 4th District), P570,000.00.
The combined networth of the 259 congressmen and senators was P9.2 billion.
View/download Net Worth Statements (PDF) |
