MikeLigalig.com

Philippine Star – 9 hours ago


Foreign Affairs Secretary Albert del Rosario is still the richest member of President Aquino’s Cabinet, with his total net worth reaching more than P838 million in 2014.

Based on his statement of assets, liabilities and net worth (SALN), Del Rosario’s net worth increased by P73 million or 8.7 percent from P765,379,281.02 in 2013 to P838,809,918.82 in 2014.
Education Secretary Armin Luistro, meanwhile, remains the poorest Cabinet member, with his net worth slightly increasing from P433,392.17 in 2013 to P471,064.46 in 2014.

Del Rosario’s wealth, as his SALN would show, came from his investments in marketable securities, stocks, real estate and various businesses.

Del Rosario was a successful businessman before entering public service as Philippine ambassador to the United States and eventually as foreign secretary. His businesses include insurance, banking, real estate, shipping, telecommunications, consumer products, retail, pharmaceutical and food industries.

He served as head of various private companies, such as the Gotuaco, Del Rosario Insurance Brokers Inc., Philippine Telecommunications Investment Corp., and Philippine Stratbase Consultancy Inc.

Del Rosario was also director of several other businesses engaged in infrastructure, property development, mass media, communications and mining.

Finance Secretary Cesar Purisima is back to being the second richest in the Cabinet, with a net worth of P298,940,320 in 2014 from P278, 947,249 in 2013. He was previously dislodged by Tourism Secretary Ramon Jimenez, who is now third richest with a net worth of P283,425,800 in 2014 from P282,466,800 in 2013.

Interior Secretary Manuel Roxas II remains the fourth richest with a net worth of P202,080,452.71 from P211,027,479.88 in 2013, lower by about P8.9 million.

Trade Secretary Gregory Domingo, fifth in the list, reported a net worth of P148,636,967.00 from P150,641,395 in 2013.

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