Pacquiao is on his second term as representative of the lone district of Sarangani Province in Southern Philippines. His term will expire on June 30, 2016 and will be replaced by his brother Rogelio (Roel) Pacquiao, who won in the May 9 election.
On June 30, 2016, Pacquiao will be sworn in as one of the 12 newly elected senators who will serve a six-year term until 2022.
Pacquiao, who made a fortune in boxing in the past 22 years, retired from the sport right after his trilogy fight against Timothy Bradley last April 9 which he won via a unanimous decision at the MGM Grand Garden Arena in Las Vegas, Nevada.
Pacquiao’s net worth got a big boost when he fought world’s highest-paid athlete Floyd Mayweather, Jr. last year in a title fight that generated a gross revenue of over $500 million, the highest in boxing history.
In his senatorial bid, Pacquiao reported an election expenditure of only P66,428,468. He said the money came from his personal funds with no one contributing to his election campaign. Pacquiao landed in seventh place with over 16 million votes.
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LOOK: Senator-elect Manny Pacquiao spent P66.4M personal funds for campaign pic.twitter.com/OOik52MgV2 | via @pia_gutierrez
— ABS-CBN News (@ABSCBNNews) June 8, 2016
Pacquiao has been criticized for his habitual absenteeism while serving his terms as congressman. Now that he has retired from boxing and with his recent election to the senate, he promised his constituents he will devote more of his time to his duties as senator.
“I’m targeting not to be absent again—the responsibilities are not like in Congress that you only work in your district—this one is nationwide,” he said.
Pacquiao said it is also the reason why he did not join the Rio Olympics.
