Philippines: How rich are the 2016 presidential candidates?

Reading Time: 3 minutes

Philippine election candidatesWhile there’s a lot of time before 2016 Presidential Elections in the Philippines, everyone is looking for more information on the candidates. Thus far, 132 people have declared that they plan on running for the highest office in the country. We will focus on three leading contenders: Vice President Jejomar Binay, Senator Grace Poe, and former Department of Interior and Local Government Secretary Mar Roxas and on their declared wealth.

By Carlo Miguel Castañeda

In the case of selecting the next president of the Philippines, their net worth may be considered an indicator of how efficient they are at growing their own wealth, whether through business or investments. Here’s a look at the net worth of the three people who’ve declared their intention to run for president in 2016, based on their latest Statements of Assets, Liabilities and Net Worth (SALN), released in April 2015.

Jejomar “Jojo” Binay
Estimated Net Worth:
PHP 60 million ($1.276 million)

The vice president’s net worth is made up of varying assets, mostly in real estate. Despite allegations of corruption and tax evasion, he is running for office, after serving as vice president since 2010.

Among the three, his tenure in politics has been the longest by far. He was appointed as officer-in-charge of Makati by President Corazon “Cory” Aquino in 1987, then elected mayor of the same city from 1988–1998, and again from 2001–2010.

He will be running under the United Nationalist Alliance (UNA), and while he has yet to announce his possible VP, there has been plenty of speculation as to who will be at his side come 2016.

Grace Poe
Estimated Net Worth:
PHP 89.5 million($1.904 million)

Mary Grace Sonora Poe-Llamanzares is the youngest of the three current candidates, and her net worth dropped in 2014 after removing the inherited assets from her father because of the rule that “in case of properties received gratuitously, eg. donation or inheritance, no acquisition cost shall be declared.”

Most of the Senator’s wealth comes from investments, and other assets.

The senator’s run for the presidency has been dogged by controversy since it was a rumor – starting with her citizenship, to allegations that she isn’t experienced enough to hold the highest office in the country. Before becoming a senator, she was also a chairperson for the Movie and Television Review and Classification Board (MTRCB) from 2010 to 2012.

She has announced that she will be running under the Partido Pilipinas coalition, and fellow senator Chiz Escudero will be her running mate.

Manuel Araneta “Mar” Roxas II
Estimated Net Worth:
PHP 202.80 million ($4.315 million)

A large part of Secretary Roxas’ net worth comes from his time as an investment banker, and some inheritance from his family. Apart from both sides of his family being old money, the Araneta Group holds plenty of exclusive franchises and development in the country.  As it stands, he is officially the richest out of the three declared candidates for president.

While he was involved in former President Corazon Aquino’s campaign, he didn’t assume an actual position in government until 1993, when he became Representative of the 1st District of Capiz. As a congressman, much of his efforts were focused on consumer protection, authoring multiple bills that were signed into law to effect changes in affordable medicines.

He is set to be the Liberal Party’s bearer in 2016, and Camarines Sur Third District Representative Maria Leonor Gerona “Leni” Robredo will be his running mate.

Final thoughts

Knowing the net worth of your presidential candidates is one way you can determine how well they can manage time and wealth. Every candidate is subject to controversy and scrutiny, and that’s par for the course when you’re in politics. Remember that comparing what each 2016 presidential candidate has done throughout their career can be your larger basis for whether or not they’re worth your vote.

This article appeared first on Moneymax Philippines. Reposted with kind permission.

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Reading Time: 3 minutes

While there’s a lot of time before 2016 Presidential Elections in the Philippines, everyone is looking for more information on the candidates. Thus far, 132 people have declared that they plan on running for the highest office in the country. We will focus on three leading contenders: Vice President Jejomar Binay, Senator Grace Poe, and former Department of Interior and Local Government Secretary Mar Roxas and on their declared wealth.

Reading Time: 3 minutes

Philippine election candidatesWhile there’s a lot of time before 2016 Presidential Elections in the Philippines, everyone is looking for more information on the candidates. Thus far, 132 people have declared that they plan on running for the highest office in the country. We will focus on three leading contenders: Vice President Jejomar Binay, Senator Grace Poe, and former Department of Interior and Local Government Secretary Mar Roxas and on their declared wealth.

By Carlo Miguel Castañeda

In the case of selecting the next president of the Philippines, their net worth may be considered an indicator of how efficient they are at growing their own wealth, whether through business or investments. Here’s a look at the net worth of the three people who’ve declared their intention to run for president in 2016, based on their latest Statements of Assets, Liabilities and Net Worth (SALN), released in April 2015.

Jejomar “Jojo” Binay
Estimated Net Worth:
PHP 60 million ($1.276 million)

The vice president’s net worth is made up of varying assets, mostly in real estate. Despite allegations of corruption and tax evasion, he is running for office, after serving as vice president since 2010.

Among the three, his tenure in politics has been the longest by far. He was appointed as officer-in-charge of Makati by President Corazon “Cory” Aquino in 1987, then elected mayor of the same city from 1988–1998, and again from 2001–2010.

He will be running under the United Nationalist Alliance (UNA), and while he has yet to announce his possible VP, there has been plenty of speculation as to who will be at his side come 2016.

Grace Poe
Estimated Net Worth:
PHP 89.5 million($1.904 million)

Mary Grace Sonora Poe-Llamanzares is the youngest of the three current candidates, and her net worth dropped in 2014 after removing the inherited assets from her father because of the rule that “in case of properties received gratuitously, eg. donation or inheritance, no acquisition cost shall be declared.”

Most of the Senator’s wealth comes from investments, and other assets.

The senator’s run for the presidency has been dogged by controversy since it was a rumor – starting with her citizenship, to allegations that she isn’t experienced enough to hold the highest office in the country. Before becoming a senator, she was also a chairperson for the Movie and Television Review and Classification Board (MTRCB) from 2010 to 2012.

She has announced that she will be running under the Partido Pilipinas coalition, and fellow senator Chiz Escudero will be her running mate.

Manuel Araneta “Mar” Roxas II
Estimated Net Worth:
PHP 202.80 million ($4.315 million)

A large part of Secretary Roxas’ net worth comes from his time as an investment banker, and some inheritance from his family. Apart from both sides of his family being old money, the Araneta Group holds plenty of exclusive franchises and development in the country.  As it stands, he is officially the richest out of the three declared candidates for president.

While he was involved in former President Corazon Aquino’s campaign, he didn’t assume an actual position in government until 1993, when he became Representative of the 1st District of Capiz. As a congressman, much of his efforts were focused on consumer protection, authoring multiple bills that were signed into law to effect changes in affordable medicines.

He is set to be the Liberal Party’s bearer in 2016, and Camarines Sur Third District Representative Maria Leonor Gerona “Leni” Robredo will be his running mate.

Final thoughts

Knowing the net worth of your presidential candidates is one way you can determine how well they can manage time and wealth. Every candidate is subject to controversy and scrutiny, and that’s par for the course when you’re in politics. Remember that comparing what each 2016 presidential candidate has done throughout their career can be your larger basis for whether or not they’re worth your vote.

This article appeared first on Moneymax Philippines. Reposted with kind permission.

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