FACT CHECK | Rehashed claim on late dictator Marcos as world’s wealthiest man is false

May 3, 2022 , 03:29 PM

(May 3, 2022) – Some social media users are dismissing the legitimacy of the corruption issues hurled against the family of the late dictator Ferdinand Marcos Sr. because he was allegedly one of the two richest men in the world in 1949.

This claim is false.

CLAIM:

In a Facebook post last March, a netizen questioned how Marcos would accumulate ill-gotten wealth during his decades-long rule when he was already the “world’s richest man” in 1949. She included the link of her source in the post along with a screenshot of some pages that agree with her faulty claim.

“Grabe, wala akong masabi, ngayon ko lalong napatunayan na kailangan (nang) linisin ang maruruming tao sa gobyerno na nangbaboy sa ating bansa. Ito ‘yung sinasabi nilang tamang panahon sa tamang pagkakataon,” added the netizen.

In the posted link, it claimed that Marcos and “Fr. Jose Antonio Diaz” were the richest men in 1949 since they allegedly owned 192,000 metric tons of gold as a form of commission from the Tallano clan. It corresponds to 30% of the alleged total of 640,000 metric tons of gold.

RATING: False

FACTS:

It has been reported numerous times that the Tallano gold is nothing but a myth. Similar posts about the status of Marcos and the alleged priest as the richest men in 1949 have no concrete basis since the premise that they got their wealth from the Tallano family does not have proof.

In addition, only 244,000 metric tons of gold have been found globally, according to the United States Geological Survey. Other sources say that the estimates are only around 200,000 tons of gold have so far been mined. These figures only show that the 640,000 metric tons of gold, as claimed in the erroneous website cited in the Facebook post, could not be considered a fact.

Meanwhile, the corruption charges against the Marcoses have a factual basis given that the Supreme Court has ruled in several cases that they indeed plundered the public coffers while they were in power. Reports estimate that they stole around $5 billion to $10 billion worth of public funds.

In 2003, the Supreme Court ruled that the $658 million funds in the frozen bank accounts of the Marcoses in Switzerland were ill-gotten since the total goes way beyond what the late dictator and his wife Imelda, known for her unapologetically lavish lifestyle, could have earned as public officials. Two separate rulings forfeited the Arelma assets and some of Imelda’s jewelry in favor of the government.

WHY THIS MATTERS:

Despite the numerous fact-check content regarding the Marcos family’s wealth, many loyalists have continued to spread false claims. Others have even continued to hold on to the Tallano gold myth even if there is no strong basis for it.

Bongbong Marcos Jr., the late dictator’s son who’s running for president in the 2022 elections, also flip-flopped on the alleged gold owned by his family. Now that he’s gunning for the highest government post, he suddenly insisted that he has not seen any gold, but he told the Philippine Daily Inquirer in 1990 that only he knows how to get his family’s hidden gold.

He remains to be the frontrunner in surveys despite the corruption controversies hounding his family. Additionally, they have yet to settle their estate taxes reportedly pegged at P203 billion.

The false Facebook post has gained around 1,700 reactions, 583 comments, and 3,100 and continues to get engagements.

News 5 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, e-mail info@factsfirst.ph. Message News 5’s Facebook page if you want to have any claims fact-checked. Read our fact-checking policy here.

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