Imelda Marcos Net Worth
Imelda Marcos has an estimated net worth of $5 billion. Imelda Marcos spent more than 20 years as the first lady of the Philippines before being driven from power. She became infamous for her lavish spending habits before returning to politics. The majority of her wealth was attributed to the money she inherited from her husband.
In 1954, Imelda Marcos married politician Ferdinand Marcos. In 1965, Marcos was appointed as the Philippines’ first lady. She held several government positions while her husband was in office, as the regime devolved into a dictatorship known for human rights violations and alleged money laundering.
Marcos’ spending, which included a large shoe collection and an investment in New York real estate, was particularly scrutinized. She and her husband fled the country in 1986. Marcos eventually returned home and was elected to the national congress in both 1995 and 2010, along with two of her children.
To calculate the net worth of Imelda Marcos, subtract all her liabilities from her total assets. Investments, savings, cash deposits, and any equity she has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of her net worth:
|Net Worth:||$5 Billion|
|Monthly Salary:||$20 Thousand|
|Annual Income:||$100 Million|
|Profession:||Politician, Model, Supermodel|
Marcos is best known as the former first lady of the Philippines. She was born on July 2, 1929, in Manila, the capital city of the Philippines. (According to some sources, she was born in the province of Leyte.) She was born Imelda Remedios Visitacion Romualdez, the oldest daughter of a lawyer and a housewife. Her five younger siblings and several older half-siblings from her father’s first marriage surrounded her as she grew up.
Marcos faced a number of challenges at a young age. Her mother died of pneumonia when she was eight years old, and her father’s law practice failed around the same time. He then relocated with his family to Tacloban, Leyte, his home province. The family’s financial situation remained precarious. Marcos, a talented singer, attended Holy Infant Academy in Tacloban, an all-girls school.
Marcos moved to Manila in the early 1950s to live with a cousin who was also a politician. There, she met another rising politician named Ferdinand Marcos. Imelda and Ferdinand married in a small civil ceremony only 11 days after they met. A month later, the couple hosted an elaborate party for friends and family.
Imelda Marcos looked after the couple’s growing family while her husband rose through the political ranks of the country. Imee, Ferdinand Jr., also known as “Bongbong,” and Irene were their three children. When Ferdinand was elected president in 1965, Imelda drew comparisons to another famous first lady, Jacqueline Kennedy, due to her beauty and poise.
As first lady, Marcos met a diverse range of world leaders, including US President Lyndon B. Johnson and Cuban leader Fidel Castro, as well as Libyan dictator Muammar al-Qaddafi. In addition to supporting her spouse, she sought political opportunities for herself. Marcos served as governor of Metro Manila in the mid-1970s, overseeing numerous costly beautification and development projects. Marcos later served in the interim national assembly and as human settlements minister.
While many Filipinos were impoverished, Imelda Marcos became known for her extravagant spending. She visited New York City and other cities to purchase expensive fashions, high-end jewelry, and other luxury items. For the presidential residence — the Malacaang Palace — Marcos had to have the best of everything. But all of this opulence came at the expense of the Filipino people. The Marcos family and their associates are suspected of stealing billions of dollars from the country’s coffers.
The Marcos regime was also known for its oppressive rule, in addition to theft and corruption. In September 1972, Ferdinand Marcos declared martial law, effectively establishing himself as the country’s dictator. This move enabled him to crush growing popular resentment and prevent his opponents from deposing him from power. The Marcos regime may be brutal to those who oppose it. Thousands of people were tortured, and others were executed without a trial.
The assassination of vocal Marcos opponent Benigno Aquino in 1983 began to erode the Marcos government’s grip on the Filipino people. Imelda fled the country with her husband after he was deposed by the People Power movement in 1986.
She left many items at the presidential palace in her haste to leave. Her impressive collection of approximately 1,200 pairs of designer shoes drew attention. These extravagant shoes became an international symbol of the former ruling couple’s extravagant spending habits and wealth.
Life in Exile and Trial
Marcos and her husband eventually made their way to Hawaii. Despite legal issues and pressure to return funds believed to have been stolen from the Philippine government, the couple appeared to live quite comfortably. Imelda Marcos was charged with fraud and racketeering in an American court not long after her husband’s death in 1989.
Marcos was charged with stealing approximately $200 million from her country and using it to purchase real estate in New York City. Doris Duke paid Marcos’ bail, and actor George Hamilton testified in her defense. Marcos was found not guilty in the case.
Marcos returned to the Philippines in 1991 and was arrested the next day, with the government hoping to recoup lost funds believed to be held by the former first lady. Following her release on bail, Marcos sought political power once more, running for president the following year.
Marcos lost her election bid to military leader Fidel V. Ramos and was soon embroiled in yet another legal battle. She was convicted of corruption in 1993 and received a lengthy prison sentence as well as a $4.3 million fine. Her conviction was later overturned by her country’s supreme court in 1998, the same year she resigned from her second presidential run.
Marcos, no longer the first lady, has emerged as a political force on her own. She won her first election after returning from exile in the mid-1990s, and served in the House of Representatives for several years. In 2010, she was elected as the representative for the province of Ilocos Norte, where her late husband was born and where the Marcos family still wields political power. Two of her children are also involved in politics. In 2010, her daughter Imee was elected governor of Ilocos Norte, and her son Ferdinand Jr. was elected to the national senate the same year.
Marcos, on the other hand, might never fully emerge from the shadows of her past. Despite the fact that the majority of the 900 civil and criminal cases filed against the Marcoses have been dismissed, Imelda is still facing legal challenges.
A court ordered Marcos to repay nearly $300,000 in funds believed to have been stolen from the National Food Authority during her husband’s reign in 2010. Her famed jewelry collection, valued at $21 million, was also ordered to be auctioned off by the government in 2016.
The story of Marcos has continued to fascinate the media, with a disco-oriented and somewhat controversial musical about her life, Here Lies Love, presented in 2013 at New York’s Public Theater by David Byrne and Fatboy Slim.
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