By YVONNE T. CHUA
The combined net worth of the 290 members of the House of Representatives for 2014 has surpassed P17 billion, an increase of more than 10 percent from their declarations for 2013.
The increase has raised the average net worth of the representatives in the 16th Congress by more than P6 million.
Released days ago, the summary of the assets and net worth statements for 2014 showed members of the House today owning real property of more than P9 billion.
Their declared personal property has likewise risen, to more than P12 billion. All together, the total assets of the 290 lawmakers (real property + personal property) exceed P21 billion.
On average, district representatives are twice wealthier than party-list representatives.
But party-list members in the chamber, who represent the country’s marginalized sectors, aren’t exactly paupers.
Thirty-three out of the 56 party-list members have a net worth of more than P10 million. The richest party-list member, Diwa’s Emmeline Y. Aglipay, reported she and her husband, Las Pinas Rep. Mark Villar, are worth P689 million. The two wed last year.
The average net worth of all female representatives (P58.1 million) is only slightly lower than their male counterparts (P61.4 million.) When broken down by areas, the average net worth of female representatives from Luzon is 72 percent more than male representatives from the island. Interestingly, female party-list lawmakers have an average net worth thrice that of male party-list representatives.
Chiefly because of Manny Pacquiao’s P1.688 billion net worth, second-termers have the highest average net worth. Pacquiao, who represents Sarangani, is on his second term.
The younger representatives, from under 35 to 44, have bigger average net worths than the older legislators. Again, Pacquiao, who belongs to the 35-44 age group, is a significant factor.
Pacquiao’s declarations make him again the wealthiest in the chamber, followed by Speaker Feliciano Belmonte. Previously, it was Imelda Marcos, who represents Ilocos Norte’s second district, who was the second wealthiest in the House. Belmonte rose by one notch due to an increase in his real property, while Marcos dropped because of a substantial increase in her liabilities.
Because of her marriage to Villar, Aglipay is the lone party-list member among the chamber’s 20th richest. Her 2014 net worth skyrocketed by more than 7,000 percent and catapulted her to sixth place. She used to rank 225th in net worth.
The 20 wealthiest representatives are mostly from Luzon and Metro Manila.
The rich male representatives tend to be younger than the rich female representatives. Four of the eight women representatives in the Top 20 list are 65 and older, including Marcos. Seven of the 12 richest male representatives belong to the 45-54 age group.
Two in three of the 20 wealthiest representatives are on their second term.
Anakpawis’ Fernando Hicap remains the poorest member of the House. But his 2014 net worth of P95,572.65 is two-and-a-half times than his 2013’s (P37,722.39). Hicap declared more personal property for 2014.
Dinagat Islands’ Kaka J. Bag-ao, who used to be a party-list representative, reported a 222 percent rise in her net worth, from P598,012.82 in 2013 to P1,927,210.32, because also of an increase in her personal property.
Sulu Rep. Maryam Arbison (2nd district) is now among the 20 poorest, experiencing a 91 percent drop from her 2013 net worth because of a big decrease in personal property.
In the bottom 20 are mostly party-list representatives. But six district representatives keep them company; they come from the country’s poorest regions.
Males outnumber females among the poorest representatives. Most of them are from 45 to 54 years old.
Forty-five percent of the 20 poorest members of the House are on their first term, a third on their second, and a fifth on their third.
To find out more about the declarations of district representatives for 2014, click the red dots in the map.