Where did Ferdinand Marcos hide his $14b fortune?

Despite the many accusations against the former Philippine president and a 35-year treasure hunt to uncover his billions, the Marcoses are more popular than they’ve been in decades.

The late Ferdinand Marcos and his wife, Imelda, during his 1986 election campaign. His graft – estimated at up to US$10 billion – is recognised by Guinness World Records as the “greatest robbery of a government”. Getty

Haley Gilliland

Jul 21, 2021 – 8.00am

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Senator Paul Laxalt was in a classified briefing about political chaos in the Philippines when an assistant interrupted: He had an urgent phone call from Manila. On the other end of the line was Ferdinand Marcos, the country’s president. Marcos wanted to know if it was true that Ronald Reagan wished to see him step down.

It was February 24, 1986, and for the past several days millions of people had swarmed Manila’s streets in protest. The immediate trigger was Marcos’ victory in a seemingly fixed election, but the ire went much deeper. In the 1970s, Marcos had led a military government of uncommon brutality, disbanding Congress, silencing the media, and using the army to torture and kill thousands of citizens.

Bloomberg Businessweek