The richest PNoy cabinet members

Does wealth come with power or is power the source of wealth?

Whatever the case may be, if President Noynoy Aquino’s cabinet members are an indication, those in power are also the rich people in the in the Philippines.

Based on the 2010 Statement of Assets, Liabilities and Net Worth (SALN) submitted by PNoy’s Cabinet secretaries, all but one Cabinet member is a millionaire.

How rich is rich in the Philippines?

Millionaires are rare in a country where more than half of the population consider themselves poor, as per the April 2011 Social Weather Stations (SWS) survey. According to the National Statical Coordination Board (NSCB), rich people in the Philippines, described as those earning an average of P2.4 million per year, represents only 0.1% of total Filipino families.

Those belonging in the middle-income class, on the other hand, earn an average of P444,000 per year while poor families on average earn only P108,000 per year.

Purisima richest, Luistro poorest Cabinet member

Among all Cabinet secretaries, Department of Finance (DoF) Secretary Cesar Purisima is the richest with a total net worth of P252 million. His assets include real properties in Ayala Alabang, Wack Wack Tower in Mandaluyong and in Tagaytay. He and his wife are also major shareholders in several companies such as Filhouse Gem Inc., MHC Commercial Corp., Zurcaled Realty and Development, and Archimedes Realty and Development Corp.

The second richest Cabinet member is Department of Trade and Industry (DTI) Secretary Gregory Domingo whose net worth is around P151 million. Department of Energy (DoE) Secretary Jose Rene Almendras is third with a net worth of more than P129 million.

Department of Justice (DOJ) secretary Leila de Lima joins several Cabinet members at the bottom of the list with a net worth of more than P3.29 million. Department of Social Welfare and Development (DWSD) secretary Dinky Soliman has a net worth of P2.1 million. The “poorest” Cabinet member is Department of Education (DepEd) secretary Armin Luistro whose net worth is only P89,000.

Here’s to hoping that these people with money and power find ways to uplift the lives of the majority of the Filipino people who, until now, remain poor.

Net Worth of Pres. Noynoy Aquino’s Cabinet Members

Rank	Secretary	Department	2010 Net Worth (in PhP)
1	CESAR PURISIMA	Finance	252.0 million
2	GREGORY DOMINGO	DTI	151.0 million
3	JOSE ALMENDRAS	Energy	129.0 million
4	PROCESO ALCALA	Agriculture	87.0 million
5	ROGELIO SINGSON	DPWH	84.4 million
6	ENRIQUE ONA	DOH	77.5 million
7	MARIO MONTEJO	DOST	53.1 million
8	ALBERTO LIM	Tourism	46.9 million
9	VOLTAIRE GAZMIN	DND	23.1 million
10	PAQUITO OCHOA	Exec. Secretary	16.0 million
11	CESAR GARCIA	National Security	15.6 million
12	VIRGILIO DELOS REYES	DAR	15.0 million
13	HERMINIO COLOMA	Communications	14.7 million
14	ALBERTO ROMULO	DFA	5.70 million
15	LEILA DE LIMA	DOJ	3.29 million
16	RAMON PAJE	DENR	3.25 million
17	CORAZON SOLIMAN	DSWD	2.10 million
18	ROSALINDA BALDOZ	DOLE	1.70 million
19	ARMIN LUISTRO	DepEd	89,000

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