Philippine Election 2010: Top 5 Presidential Candidates and their growing wealth

Tomorrow, February 9 is the start of the national campaign as allowed by the Commission on Elections (Comelec). While we will watch as to who will follow the rules and will disobey them, it is also interesting to know them more.

With this, below is the list of the Top 5 Presidential Candidates and their growing wealth. This is only a summary as published on GMA News.tv recently so I assume they are verified true and correct.

But before you proceed, let me remind you that the next Philippine president would earn only P60,000 a month or a maximum of P4.68 million in six years, before tax. The total six-year income for the new president would add up to just P3.18 million, after tax.

Now, get ready for the amazing list.

Manny Villar

A former member of the House of Representatives 1992-96, 1998-2003, and a senator since 2004. He started with a net worth of P75.43 million in 1992, grew it to PP310.92 million in 1996, P481.5 million in 2002, P750.82 million in 2005, and closed it at P1.05 billion in 2008.

Noynoy Aquino

A former member of House of Representatives, 1998-2005, and a senator since 2007. He started with a net worth of P8.42 million in 1998, grew his wealth to P11.98 million in 2002, raised it further to P13.47 million in 2005, and ended 2007 with P13.94 million.

Joseph Erap Estrada

A movie actor and a film producer, mayor of San Juan in Metro Manila 1968-88, vice president 1992-98, and president from 1998 to January 2001. He reported a net worth of P1.18 million in 1985, grew this to P3.82 million in 1992, and filed his last SALN in 1999 before his ouster from Malacanang at P35.86 million.

Gilbert Gibo Teodoro

A former member of the House of Representatives 1998-2006, staff in the Office of the President in 2007, and became the Secretary of National Defense from 2008 to 2009. He started with a net worth of P80.17 million in 1998, slid to P75.54 million in 2002, did not file in 2003, grew it to P102.62 million in 2005, and closed it at P232.43 million in 2008 owing to a surge in the value of real estate inheritance in Sampaloc, Manila. In 1998, Teodoro reported having interest in 11 lots in Sampaloc, Manila.

Richard Dick Gordon

A former mayor of Olongapo City 1992-95, 1998-99 and 2004-07, Subic Bay Metropolitan Authority administrator 1995-98, became the Secretary of Tourism 2001-03, and a senator since 2004. He started with a net worth of P8.3 million in 1992, grew it to P11.87 million in 1995, P22.38 million in 2002, P24.92 million in 2005, and ended it at P26.52 million in 2007.

But of course, these figures are not as simple it seems since this is only those declared in their Statement of Assets, Liabilities and Networth (SALN).

Among the five Presidential candidates, Dick Gordon is the most detailed and forthcoming in his SALN declarations.

He has disclosed over the years that his stock investments which include the following.

STOCKS YEAR ACQUIRED PESO VALUE

Philex Mining Corp 1973 P36,652
First Phil Holdings, Inc 1973 P8,778
Atlas Consolidated Mining Co. 1973 P3,543
San Miguel Corp. 1973-1999 P910,139
Lepanto Consolidated (P34.00 per share)
Central Azucarera de Don Pedro P405,000
Jollibee Foods Corp. P2, 659,604
Aboitiz Equity Ventures P31,200
Pilipino Telephone Corp P1,014,000
Petron Corp P23,000
Meralco P116,250
Filinvest P371, 250
C & P Homes P111, 250
Kepphil Shipyard, Inc. P75, 978

Manny Villar, who is said to be the wealthiest of the five candidates, is also the stingiest with details offered in his SALNs. According to the report, he did not list Vista Land in his SALNs among his business and financial interests. What he disclosed are shares in companies with controlling interests in Vista Land, notably Fine Properties, Inc. (since 1982) and Adelfa Properties (since 1986).

Again, let's vote a candidate because of his integrity, history and capability.

I do not mean that rich people cannot serve his country, but it is a must that we know how to vote wisely.

Related posts:
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Erap for President in 2010 confirmed
Erap for President in 2010 officially announced
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Comelec : Joseph Erap Estrada can run for President in 2010 Election

Yesterday, The Commission on Elections or Comelec said that Joseph Erap Estrada can run for president in the 2010 election. This is exactly after nine years after former president Erap left the Malacanang Palace due to the so-called People Power 2.

"The better policy approach is to let the people decide who will be the next President. For on political questions, this court may err but the sovereign people will not," the Second Division of the poll body said after in a decision junking the two petitions for disqualification separately filed by Evilio Pormento and Mary Lou Estrada.

"The disqualification petitions are both denied for utter lack of merit," the Comelec said.

In seeking Estrada's disqualification, the petitioners cited Article VII, Section 4 of the Constitution which says: "The President shall not be eligible for any reelection. No person who has succeeded as President and has served as such for more than four years shall be qualified for election to the same office at any time."

It must be remembered that in 1998, Joseph Erap Estrada was elected with over 10 million votes, the highest vote a presidential candidate ever had in Philippine history. But after more than two years in power, he was toppled by the street uprising amid corruption allegations and before an impeachment court could rule on his case.

In September 2007, Erap Estrada was convicted by the anti-graft court Sandiganbayan for plunder, sentenced to a lifetime in jail and disqualified from seeking public office.

But after a month, President Gloria Macapagal-Arroyo granted him executive clemency, thus restoring his political and civil rights, including his right to run for office.

"Estrada no longer holds a public office, more importantly, he is no longer the President and wields none of the vast powers of this position… Because of this prevailing status, a simple application of the rule will lead any reasonable and logical person to conclude that the prohibition against the reelection of the President does not apply to Estrada," the Second Division said.

This means that contested provision only applies to incumbent Chief Executives.

The decision, however, is not yet final since the petitioners can still appeal the same before the Comelec and even the Supreme Court.

But for the meantime, Estrada expressed confidence that he would rise higher in surveys on preferred presidential candidates, in which he is consistently ranked third even back when there were doubts on the legitimacy of his renewed bid for the presidency.

Apparently, the two leading presidential candidates in surveys are Noynoy Aquino and Manny Villar.

The former president offered a Thankgiving mass this afternoon at Tondo, where he said he owe his triumph to the masses.

In my short but honest opinion, Erap has a lot of things to do before he can the heart of the majority of masses again. Although there are still four months to go before the election, most young people are already looking for fresh faces in politics.

Related posts:
Joseph Erap Estrada back in Malacanang today
Erap for President in 2010 confirmed
Erap for President in 2010 officially announced
2010 Philippine Automated Election Guide now released
Philippine Election 2010 Special Registration and How to Verify Online
President Gloria Macapagal Arroyo will run for Congress in 2010 election

If you want to receive my future posts regularly for FREE,you can subscribe in a reader or by Email. If you have concerns, please do not hesitate to Contact Me anytime.

Read more...