FACT CHECK: Marcos’ last will had no plans to distribute wealth for the people

Apr. 08, 2024

By Shalsi Villan

Claim: A video on Okay Dito’s YouTube channel claimed that former President Ferdinand E. Marcos’ last will detailed his intention to use his net worth for programs and initiatives that would benefit the Filipino people. These programs include creating jobs, giving out scholarships, enhancing healthcare, assisting with retirement plans, building roads, advancing mining, increasing agriculture, and supporting the national economy.

The video, released on October 26, 2022, garnered 188,718 views, over 3,600 likes and 346 comments on a channel with more than 197,000 subscribers.

Verdict: FALSE

Fact check:

The newsgroup Rappler wrote that Marcos’ last will and testament, signed on June 23, 1988 did not state that his wealth would go to any of the aforementioned programs. In fact, his will stated that all of his estate “of every nature and kind,” would be bequeathed to his wife and four children. One-half of his estate would be bequeathed to his wife Imelda, while the other half would go to his children.

Marcos’ children are Senator Imee Marcos, President Ferdinand ‘Bongbong’ Jr, Irene and his adopted daughter, Aimee, a musician.

There have been many versions of this claim that Marcos amassed wealth in many years and intends to distribute this for national recovery. Another version goes to say his money is now being used for the Maharlika Fund. This story also contributed to the popularity and victory of Marcos Jr. in his 2022 presidential run.

Vera Files reports that the Supreme Court affirmed the existence of the Marcos family’s ill-gotten wealth, amounting to $658-million in Swiss bank deposits, $3.37-million assets of a shell company owned by Marcos Sr, and $110,000 worth of jewelry.  The SC ordered the forfeiture of these assets for the Philippine government. 

The Philippine government has recovered P265-billion of the Marcoses’ ill-gotten wealth as of 2022, and is yet to recover P125 billion more.

Source of Claim: https://youtu.be/mODRdI80tTA?si=ehsnML26kB7GCUsR

Rappler: https://www.rappler.com/newsbreak/fact-check/ferdinand-marcos-last-will-testament-did-not-state-use-wealth-national-programs/

VERA Files: https://verafiles.org/articles/vera-files-fact-check-marcos-falsely-claims-ill-gotten-wealth-cases-are-untrue-propaganda

Davao Today is part of #FactsFirstPH which brings together various sectors that are committed to promoting truth in the public space, and exacting accountability on those who harm it with lies. For those interested to join the initiative, email info@factsfirst.ph.

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