(Eagle News) –President Rodrigo Duterte said the P3-million increase in his net worth was because of excess campaign donations for the 2016 elections.
“Those were excess funds… The money no longer has purpose. I do not know where they came from. I declared that as income,” President Duterte told reporters in Hong Kong.
He assured the public he paid income taxes for the increase.
During his speech before the Filipino community in Hong Kong on Saturday, Duterte even joked there was a girl named “Vanessa” who made possible the increase.
He joked she became his “sugar mommy” after the polls, prompting the audience to laugh.
President Duterte began his series of visits to three Asian countries, including Hong Kong, last week.
Apart from Hong Kong, the President also went to Cambodia and China, where he attended a high-profile meeting.
The President’s net worth rose by P3 million—from P24.08 million to P27.43 million—in a span of six months since the time he became president in June last year.
In the Statement of Assets, Liabilities and Net worth released by the Ombudsman last week, Duterte said he had total assets of P25,180,094.04 and liabilities of P1,100,000.
He said his assets came in the form of real properties worth P4.485 million, and in the form of personal properties worth P23.943 million as of the end of 2016.