Ridon Demands VP Sara Explain P50-M Wealth Gap

The political heat in Manila just went up another notch.

On Saturday, Terry Ridon, a congressman from the Bicol Saro Party-list, said lawmakers may soon ask the court to issue subpoenas for financial records belonging to Vice President Sara Duterte.

Why?

Because of what he described as a P50-million “wealth gap.”

A growing question about wealth

Speaking at a news forum in Quezon City, Ridon explained that the House panel reviewing the impeachment complaints against Duterte may need to examine more financial documents to understand how her wealth grew over the years.

He said the investigation may not stop with the Vice President’s Statements of Assets, Liabilities, and Net Worth (SALN).

Lawmakers, he said, could also seek subpoenas for:

Her income tax returns
Bank records
SEC registrations of businesses listed in her SALN
Financial records connected to her husband, lawyer Mans Carpio

Ridon stressed that these documents are needed to verify the sources of the Vice President’s wealth.

From P7 million to P88 million

According to Ridon, Duterte’s declared net worth has grown dramatically since she first entered public office.

Back in 2007, when she served as vice mayor of Davao City, her net worth was declared at P7.25 million.

Fast forward to 2024.

Her reported net worth had risen to P88 million.

That sharp increase raised questions among lawmakers reviewing the numbers.

The alleged P50-million gap

Ridon said estimates show Duterte’s total salary from government service between 2007 and 2024 would likely reach only P30 million to P40 million.

That leaves a gap.

A large one.

“The Vice President needs to explain the difference between that P30-million to P40-million salary and the P88-million net worth declared in 2024,” Ridon said.

According to him, the difference—about P50 million—could still be legitimate.

But it needs explanation.

Possible sources could include law practice income or business earnings listed in Duterte’s SALN.

Businesses under scrutiny

Ridon said if those businesses and professional activities were responsible for the wealth increase, they would likely have generated P200 million to P400 million in revenue over 17 years to account for the difference.

That is why lawmakers want access to the records.

“The impeachment proceedings will actually give the Vice President the opportunity to explain this P50-million gap,” Ridon said.

Duterte camp: We’ll respond at the right time

Duterte’s legal team, however, is not rushing to respond.

In a message to reporters, lawyer Michael Poa said the camp will answer the allegations “at the appropriate time.”

Last week, Duterte also pushed back against accusations that she has unexplained wealth.

She challenged her critics in the House to point out exactly which entries in her SALN they believe are questionable.

Impeachment timeline may shift

Ridon added that the next steps in the impeachment proceedings could depend on whether Duterte submits a formal response to the House Committee on Justice by Monday, March 16.

If she does respond, the panel could begin determining the sufficiency of the complaints and hold hearings by April 8.

But if no response arrives, the process may move much faster.

In fact, Ridon said hearings could begin as early as next week.

Duterte fires back

On Friday, Duterte criticized the impeachment push, calling it part of a series of political attacks coming from the Office of the President of the Philippines and the House of Representatives of the Philippines.

She said focusing on impeachment while tensions rise in the Middle East is an “insult” to overseas Filipino workers, struggling families, and the poor.

The Vice President also described the impeachment effort as a “fishing expedition.”

She argued that requests for her SALN and bank records—like those raised by Chel Diokno—suggest investigators do not yet have solid evidence.