Del Rosario Richest, Luistro Poorest

MANILA, Philippines - Foreign Affairs Secretary Albert del Rosario remained the administration's richest Cabinet member while Education Secretary Armin Luistro is the poorest, based on their Statements of Assets and Liabilities and Net worth (SALN) for 2011.

The net worth of Del Rosario stood at P657.83 million while Luistro's wealth was only P739,006.

Del Rosario, former Philippines ambassador to the United States, grew richer by P30 million last year, from a net worth of P627 million in 2010. Based on his SALN for 2011, Del Rosario has P82 million in real estate properties, P575 million in cash, stocks, club shares, furniture and appliances. He did not declare any liability.

The foreign affairs secretary is richer than President Aquino who has a net worth of P65 million and Vice President Jejomar Binay at P57.87 million.

Despite being the poorest Cabinet member, Luistro's net worth increased to P739,006 in 2011 from P285,123 in 2010. He did not list any car or real estate property and had mainly cash at hand and in the bank.

Like Del Rosario and Luistro, almost all of the Cabinet members saw their net worth increase based on their SALN for 2011, compared to 2010. Also, all but two of the Cabinet members are millionaires. Excluded from the millionaires' club are Luistro and Labor Secretary Rosalinda Baldoz, who reported a net worth of P924,206.

The second richest Cabinet member is Tourism Secretary Ramon Jimenez with net worth of P238.23 million. He reported five real estate properties worth P123 million and cash, bonds, jewelry, club shares and vehicles amounting to P115 million.

Finance Secretary Cesar Purisima ranked the third richest official in the Aquino Cabinet at P261.58 million. Purisima listed four real estate properties, namely a condominium in Wack Wack Tower in Mandaluyong City, townhouse in San Pedro, Laguna, a house and lot in Ayala Alabang, and a condominium in Pinecrest, Tagaytay. Purisima likewise owns Filhouse Gem Inc., which he acquired in February 1997.

Included in the 10 richest Cabinet members are Transportation and Communications Secretary Manuel Roxas (P183.10 million), Trade Secretary Gregory Domingo (P153.10 million), Energy Secretary Jose Rene Almendras (P117.21 million), Public Works and Highways Secretary Rogelio Singson (P84.15 million), Health Secretary Enrique Ona (P80.78 million), Science and Technology Secretary Mario Montejo (P55.58 million), and Commission on Higher Education chair Patricia Licuanan (P48.90 million).

Roxas reported owning nine real estate properties worth P86 million while his cash, stocks, and other personal properties are worth P174 million. Roxas also listed himself as stockholder in four companies -- Harmony Assets Holdings, Northstar Capital Inc., Kauswagan Corporation, and Myapo Prawn Farm.

In his SALN, Domingo listed four real estate properties, including a house in Dasmarinas Village in Makati City, all worth P57 million. His personal properties cost P95 million.

Almendras has P55 million in real estate properties and P62 million in personal items. He also reported the purchase of a P3-million Mercedes Benz last year and a P1.6 million mortgage for a condominium unit in Taguig City.


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