P-Noy explains increase in his net worth: Times Street residence bequeathed to him by his sisters

Inquirer.net reports that President Benigno Aquino III "told reporters on Wednesday, May 2, that his net worth increased in 2011 because of an inheritance from his parents, the late opposition leader Benigno ’Ninoy’ Aquino Jr. and former President Corazon Aquino." However, the report further noted that the president "did not want to give an exact figure."

Inquirer.net reports that President Benigno Aquino III "told reporters on Wednesday, May 2, that his net worth increased in 2011 because of an inheritance from his parents, the late opposition leader Benigno ’Ninoy’ Aquino Jr. and former President Corazon Aquino." However, the report further noted that the president "did not want to give an exact figure."

 

Inquirer.net quoted Aquino, who said, "When it comes to [my] SALN (statement of assets, liabilities, and net worth)-and I admit I took up only one Accounting subject-I might not be able to give you the exact figure down to the decimal point and that might become your headline for two weeks. If I have a copy with me, I can read it to you completely, down to the last centavo."

 

Inquirer.net pointed out that "for 2010, Mr. Aquino declared a net worth of ₱54.9 million in his SALN." He also disclosed that the "’major’ increase in his net worth came from the Times Street residence, which had been bequeathed to him by his sisters Ballsy Aquino-Cruz, Pinky Aquino-Abellada, Viel Aquino-Dee and Kris Aquino."

 

For more on this story, log on to Inquirer.net.

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