In 1983, sometime after the assassination of Philippine opposition political leader Benigno Aquino Jr., Elizalde fled the Philippines. It had been rumoured that he fled with and eventually squandered millions of dollars from a foundation set up to protect the Tasaday. It was also rumoured that Elizalde used the photos and other information he got from the Tasaday and Blit tribes and used it for money-making business in various countries. It was reported that he amassed money amounting to US$100 million, which Elizalde denied.