Leviste’s foundation donates P6 billion share sales to poor students, typhoon victims

At least P6 billion worth of share sales of the Lingkod Legarda Leviste Foundation has been donated by Batangas 1st District Rep. Leandro Levite to underprivileged Filipino students and victims of recent typhoons.

In a statement, Leviste’s office said the solon’s Lingkod Legarda Leviste Foundation aims to generate an average of P1 billion per year for the next 50 years and serve as a long-term fund to support education and disaster relief in the Philippines. 

“Leviste hopes that his efforts can help break the cycle of poverty in districts like his – the poorest in Batangas – by supporting the education of underprivileged students,” the statement read.

It added that Leviste has so far supported over 150,000 students with a P1,000 allowance, school bags and school supplies.

The foundation has also distributed over one million relief packs to typhoon victims in Leviste’s district, which includes Nasugbu, Lian, Calatagan, Tuy, Balayan, Calaca, Lemery, and Taal.

Before his election as a House member earlier this year, Leviste sold his controlling stake in SP New Energy Corporation (SPNEC) to Meralco for approximately P34 billion.

Leviste said earning that much wealth carries just as much responsibility to lend a hand.

“To be rich in the Philippines is like winning the lottery, and I believe the rich have a moral obligation to share what we have with our countrymen,” Leviste said.

“And given the issues facing our country now, I believe that it would be timely for more politicians and DPWH (Department of Public Works and Highways) contractors to voluntarily give up more of their wealth (regardless of its source) to help solve our country’s problems,” he added. — JMA, GMA Integrated News