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Friday, May 23, 2014

The wealth declared by the senators made me laugh & cry simultaneously. Find out how much.

I was reading the story on the Philippine Daily Inquirer about the richest senators in the senate and I didn't know whether to laugh or cry.
Going over the richest senators, I couldn't help but squirm at the thought of "the means" some of them got wealthy.
Of course, Jingoy Estrada's wealth can be justified because of his "great acting" while he was still in the show business. Right?
I got to wonder whether the "poorer senators" senators really had only that much in assets.
Based on their SALN you'd wonder how they could launch a national for a senate seat.
I think it would be safe to assume that the senate is a place where most people would rather understate their real net worth.
Full story below from the Daily Inquirer.
Estrada, Enrile still among richest senators
MANILA, Philippines—Senators Jinggoy Estrada, Juan Ponce Enrile and Ramon Revilla Jr., who are fighting indictment for plunder in connection with the pork barrel scam, remained in the top 10 of senators with the highest net worth in 2013.
According to the senators’ statements of assets and liabilities (SALN) for 2013, Estrada ranked No. 3 with a total net worth of P195 million, while Revilla ended up fourth with P166.7 million.
Enrile ranked seventh with P119.3 million.
The three had been accused of pocketing kickbacks from the allocation of their Priority Development Assistance Fund (PDAF) to ghost projects in a racket allegedly orchestrated by Janet Lim Napoles.
As expected, Sen. Cynthia Villar emerged No. 1 with P1.6 billion net worth; Ralph Recto, second, with P496.8 million; Ferdinand Marcos Jr., third, with P197.4 million; and Grace Poe, sixth, with P148.9 million. 
Rounding out the top 10 were Senators Teofisto Guingona III, eighth, with P114.9 million; Sergio Osmeña III, ninth, with P114.3; and Juan Edgardo Angara, 10th, with P97.8 million.
The rest were Sen. Miriam Defensor Santiago, P76.7 million; Joseph Victor Ejercito, P73.9 million; Pia Cayetano, P73.2 million; Vicente Sotto III, P63.8 million; Nancy Binay P63.7 million; Franklin Drilon, P58.1 million;  Loren Legarda, P41.4 million; Lito Lapid, P30 million; Alan Peter Cayetano, P21.7 million; Gregorio Honasan III, P20.9 million; Paolo Benigno Aquino IV, P20.4 million; Aquilino Pimentel III, P16.9 million; Francis Escudero, P8.2 million and Antonio Trillanes IV, P4.9 million. TJ Burgonio

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