Marcos, Duterte's net worth increases after three years in office
President Ferdinand Marcos Jr. and Vice President Sara Duterte significantly increased their net worth within the first three years of their term.
Copies of their Statements of Assets, Liabilities, and Net Worth for 2022 to 2024, obtained by The STAR from the Office of the Ombudsman, revealed this.
As of Dec. 31, 2024, the joint net worth of Marcos and his wife, First Lady Louise “Liza” Araneta-Marcos, stood at P389.357 million. This was an increase of P60.127 million from their P329.229 million net worth reported on June 30, 2022.
In 2022, the Marcoses' declared assets included P50.265 million in real properties and P278.963 million in personal properties (categorized as cash, money market investments, jewelry, motor vehicles, and paintings).
By the end of the year, or just six months in, their net worth increased to P371.492 million, which was composed of P56.265 million in real properties and P315.226 million in personal properties.
According to the spouses' 2022 SALN, the rise in net worth is primarily due to a P6 million residential house in La Union and substantial growth in personal assets. They also had P35 million in the bank and cash on hand, and money market investments of P219.342 million. Jewelry, motor vehicles and paintings became P60.883 million from P44.963 million as of June 30, 2022.
By December 2023, their net worth had become P381.447 million. It is composed of P142.025 million in real properties and P239.421 million in personal properties, which included P38 million cash on hand/bank; P129.342 million in money market investments; and P72.078 million in jewelry, motor vehicles and paintings.
They purchased three agricultural lots in Laoag City in August 2023, with the acquisition costs for the largest lot (5,741 sqm) reaching P11 million. They also declared an inherited residential house in Ilocos Norte, which has a current fair market value of P253,716.75.
In 2024, the Marcos spouses' net worth became P389.357 million due to the slight increase in the value of their real properties. They had P38.7 million cash on hand/bank; P134.192 million in money market investments; and P74.439 million in jewelry, motor vehicles and paintings. The value of their real properties remained at P142.025 million as of Dec. 31, 2024.
The First Couple declared zero liabilities from 2022 to 2024.
Sara Duterte’s SALNs
As for Duterte, her net worth grew by P17.435 million over her first two and a half years in office. Her wealth stood at P88.512 million at the end of 2024, up from her entry figure of P71.058 million on June 30, 2022.
Her husband, Manases Carpio, is a private lawyer; hence, he was not required to file a SALN.
Within her first six months, Duterte's net worth had a slight increase of P600,000. It is composed of P50.958 million in real properties and P23.849 million in personal properties such as motor vehicles and personal items.
According to her SALN, the eight residential properties, two vehicles and “shares in business and various items” were under Carpio's name. It also showed a personal loan of P3.150 million is named under her husband.
In 2023, her net worth became P77.508 million, consisting of P54.808 million in real properties and P25.249 million in personal properties, less P2.55 million in personal loans as liabilities, still under the name of her husband.
The following year, her net worth increased by P11 million, composed of P66.808 million in real properties and P31.653 million in personal properties, less total liabilities amounting to P9.95 million under the name of her husband, comprised of loans from “various creditors” and from a bank.
Her three new residential lots in Davao City, purchased in 2023 and 2024, contributed to the year-end increase in net worth in 2024. One was acquired for P10 million with a current fair market value of P2.051 million, another acquired for P2 million with a fair market value of P3.636 million and another acquired for P2 million with a current fair market value of P3.998 million.
Public access to the digitized copies of all existing SALNs began on Nov. 15.
The order is in line with Memorandum Circular No. 3, series of 2025, which was issued in October by Ombudsman Jesus Crispin Remulla. According to the memo, the public may gain access to officials’ SALNs without having to request permission from the SALN owner.
This is an attempt of the Ombudsman’s office to advocate for transparency as a general policy,” said assistant Ombudsman Mico Clavano at a press briefing on Nov. 3. (with reports from Elizabeth Marcelo)
