Aquino’s Net Assets Listed as $864,419

Corazon Aquino, who draws a monthly salary of $406 as president, had net assets of $864,419 when she took office, the government said Thursday.

The government, listing assets and liabilities of 17 members of Aquino’s Cabinet and inner circle, said four Cabinet ministers are millionaires.

The wealthiest is Tourism Minister Jose Antonio Gonzales, who sold toiletries, women’s wear and plastic kitchenware. He is worth $3.97 million. Presidential spokesman Rene Saguisag told reporters that Aquino and her Cabinet were under no obligation to reveal their assets but were making them public to set the “proper moral or ethical tone.”