Jovito Salonga in the context of President of the Senate of the Philippines

At 7:15 p.m. on September 23, 1972, President Ferdinand Marcos announced on television that he had placed the Philippines under martial law, stating he had done so in response to the "communist threat" posed by the newly founded Communist Party of the Philippines (CPP), and the sectarian "rebellion" of the Muslim Independence Movement (MIM). Opposition figures of the time (such as Lorenzo Tañada, Jose W. Diokno, and Jovito Salonga) accused Marcos of exaggerating these threats and using them as an excuse to consolidate power and extend his tenure beyond the two presidential terms allowed by the 1935 constitution. Marcos signed Proclamation No. 1081 on September 21, 1972, marking the beginning of a fourteen-year period of one-man rule, which effectively lasted until Marcos was exiled from the country on February 25, 1986. Proclamation No. 1081 was formally lifted on January 17, 1981 by Proclamation No. 2045, although Marcos retained essentially all of his powers as dictator until he was ousted in February 1986.

This nine-year period in Philippine history is remembered for the Marcos administration's record of human rights abuses, particularly targeting political opponents, student activists, journalists, religious workers, farmers, and others who fought against the Marcos dictatorship. Based on the documentation of Amnesty International, Task Force Detainees of the Philippines, and similar human rights monitoring entities, historians believe that the Marcos dictatorship was marked by 3,257 known extrajudicial killings, 35,000 documented tortures, 737 enforced disappearances, and 70,000 incarcerations. After Marcos was ousted, government investigators discovered that the declaration of martial law had also allowed the Marcoses to hide secret stashes of unexplained wealth that various courts later determined to be "of criminal origin".

The Marcos family, a political family in the Philippines, owns different assets that Philippine courts have determined to have been acquired through illicit means during the presidency of Ferdinand Marcos from 1965–1986. These assets are referred to using several terms, including "ill-gotten wealth" and "unexplained wealth," while some authors such as Belinda Aquino and Philippine Senator Jovito Salonga more bluntly refer to it as the "Marcos Plunder".

Legally, the Philippine Supreme Court defines this as the assets the Marcoses acquired beyond the amount legally declared by Ferdinand and Imelda Marcos in the president's statements of assets and liabilities—which amounts to only about US$13,500.00 from his salary as president. The court also deems that such wealth should be forfeited and turned over to the government or to the human rights victims of Marcos's authoritarian regime. Estimates of the amount the Marcoses reportedly acquired in the last few years of the Marcos administration range from US$5 billion to $13 billion. No exact figures can be determined for the amount acquired through the entire 21 years of the Marcos regime, but prominent Marcos-era economist Jesus Estanislao has suggested that the amount could be as high as US$30 billion.