Not under 35 members of President Rodrigo Duterte’s cabinet belong to Philippine society’s richest 1%, based on a compilation of 2021 Statements of Assets, Liabilities, and Net Worth (SALNs) published by Rappler.
In a report by BusinessWorld, it takes about P2.9 million in net worth to be part of the top 1% of Philippine society as of 2021.
Energy Secretary and PDP-Laban head Alfonso Cusi is once again the richest member of President Rodrigo Duterte’s cabinet for the second consecutive year, declaring an equity of exactly P1,489,460,343.00 in his 2021 Statement of Assets, Liabilities, and Net Worth (SALN).
This is a 1.83% increase from his SALN from the previous year, where he declared a net worth of P1,462,685,899.00.
Following Cusi is fellow billionaire and senator-elect Mark Villar, who resigned in October as secretary of the Department of Public Works and Highways (DPWH) in October 2021, who had P1,398,184,229.00.
Meanwhile, the lowest net worth above the P2.9 million limit being Presidential Adviser for OFWs Abdullah Mama-o’s P6.17 million.
Mark Ernest Famatigan is a news writer who focuses on Philippine politics. He is an advocate for press freedom and regularly follows developments in the Philippine economy. The views expressed are his own.
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