Duterte says he inherited wealth from parents
President Rodrigo Duterte has said he got his wealth from the sale of pieces of real property that he and his siblings inherited from their parents.
During his dinner with reporters in Davao City last Friday, the President said he and his siblings decided to sell the properties they inherited when they started quarrelling over them.
"The reason why they're sold, because we argued (about the properties). Me and my siblings quarrelled so I said, 'sell'," Duterte said.
He recalled that when he was still a student, he already had P3 million after they sold the properties.
He said they have a piece of land near an ice plant and a family-owned lot in Carriedo in the province.
After selling the land near the ice plant, Duterte said the money was divided and that was where they got their "first millions."
The people who are still living in the area could attest to his claim, he said.
After all the properties were sold, the President said he also invested in logging. But he did not disclose any detail regarding his logging investment.
Duterte revealed where he got his wealth amid allegations that he and his family were engaged in corruption.
He said his critics could trace his property and money after his father passed away in 1968 and his wealth was then deposited with the then Insular Bank of Asia.
The President said he has already distributed his wealth to his children.
"But those titles now are in the name of my children. All the properties," he said.
Contrary to the accusation of opposition Senator Antonio Trillanes IV, he said currently he has "more or less in the bank...500,000 (pesos) something or below. Almost nearing 500. That was my last. They should look at it."
He claimed that his bank deposits came from "hereditary properties."
He reiterated his promise to step down if he has ill-gotten money in the bank.
"I am telling you, you show any bank account, foreign (or otherwise) and I will step down tomorrow. I will do that. I am telling you the truth, you are all witnesses to my career,” he said. Ella Dionisio/DMS
