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Duterte already a millionaire as a college senior: Nag-away kaming magkapatid, kaya hinati mana ng tatay ko

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President Rodrigo Duterte said people hunting for the source of his wealth should start from his college years or shortly after the death of his father in 1968.

In a speech Friday, Duterte said he was already a millionaire in his early twenties when he and his siblings decided to divide the properties left by their father, Vicente Duterte, who was a former governor of Davao and a member of the Marcos Cabinet.

“Nag-away-away kaming magkapatid. Kaya sabi ko, ‘Sell’. Noon pa, long ago, I was just a student, fourth year. I already had about three million,” said Duterte.

Duterte said his father, who died while attending a libel case, had invested in land in Davao and also went into logging.

“Yung lupa na ‘yan. Just beside that ice plant, it was ours. You know what was very… Umabot ang ice plant noon. Makuha ka ng congressional franchise. Kaya kung nabigyan ka niyan, parang masolo mo,” said Duterte.

“Kaya mabenta ‘yung ice mo. ‘Yung mga fish dealer, ‘yung mga restaurant. So when we divided, we had our first millions already,” he added.

Duterte said all of his wealth were mostly hereditary and he placed these assets under the name of his sons and daughters.

“If you want really to trace my money, start from there. It’s a not… Ibigay na nila, tapos na ‘yang bangko na ‘yun. I’m sure that they have the records,” said Duterte.

Duterte claimed he has only roughly half a million pesos under his name.

“I have more or less in the bank. It could be… Masobra ng 500,000 something or below. I assure you, almost… It’s either 505, 510, hindi mag-abot ng six (hundred thousand pesos),” said Duterte.

Dutere suggested that those curious about his wealth should trace it back to his bank deposits at the defunct Insular Bank of Asia in Davao owned by the Aboitiz family.