HomeTopNews Philippines

7 House members richer by more than 100% in a span of one year

MANILA, Philippines — In just one year, seven House members have more than doubled their wealth with a party-list lawmaker topping the list and declaring P254.3 million net worth, representing a surge of 406.3 percent.

Outgoing Agri Rep. Delphine Lee, whose party-list failed to win a seat in the 18th Congress, became P204 million richer by end 2018 based on the summary of Statements of Assets, Liabilities, and Net Worth (SALNs) posted on the chamber’s website (http://www.congress.gov.ph/download/#saln). The representative of the agriculture and farmer’s advocate group declared a net worth of P50.2 million by December 2017.

ADVERTISEMENT

Pampanga 1st District Rep. Carmelo Lazatin II posted the second-highest increase in wealth from P9.2 million in 2017 to P31.1 million in 2018, or a 236.7 percent hike.

Quezon City 2nd District Rep. Winston Castelo came in third as his wealth in 2018 jumped by 175.7 percent from P7.7 million in 2017 to P21.3 million last year.

FEATURED STORIES

Aasenso Rep. Teodoro Montoro was a close fourth with 170.7 percent increase in wealth from P2.2 million in 2017 to P5.9 million in 2018. Trade Union Congress of the Philippines (TUCP) Rep. Raymond Mendoza followed Montoro with a declared net worth of P19.5 million in 2018, a 126.6 percent spike from his P8.6 million net worth in 2017.

Completing the seven lawmakers whose net worth more than doubled from 2017 to 2018 are Mata (Ang Mata ay Alagaan) Rep. Tricia Velasco-Catera and Batangas 2nd District Rep. Raneo Abu.

Here are the top 15 House members who reported the largest net worth increase from December 2017 to December 2018:

7 House members richer by more than 100% in a span of one year

But in terms of actual assets, 1-Pacman Rep. Michael Romero, the richest of all 291 House members of the 17th Congress, has recorded the largest wealth accumulation of P567 million in a span of one year – from P7.291 billion net worth in 2017 to P7.858 billion last year. Lee followed him. 

READ: 2 billionaires in House in 2018; Port tycoon Romero still richest

This writer has sought Lee for comment on the matter but has yet to receive her response, as of posting of this report.

ADVERTISEMENT

On the other hand, Marinduque Rep. Lord Allan Velasco and Bohol 3rd District Rep. Arthur Yap reported the largest rate of decrease in their wealth from 2017 to 2018. Velasco’s net worth dropped by 39.18 percent from his 2017 wealth of P35.73 million to P21.73 million in 2018. Yap’s reported net worth dwindled the most at 82.43 percent from P35.258 million in 2017 to P6.195 million by end 2018. (Editor: Katherine G. Adraneda)

Read Next

LATEST STORIES

MOST READ

Don’t miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Agri Party-List, Congress, Delphine Lee, House of Representatives, Local news, Nation, national news, news, Philippine news updates, SALN, wealth
For feedback, complaints, or inquiries, contact us.