Kaylah Walton
This past Thursday, the Catholic Church reached another milestone. For the first time in 2,000 years, an American, Robert Francis Prevost, a seasoned bishop and missionary from Peru, has been chosen as pope, now known as Pope Leo XIV.
At 69, he addressed a worldwide audience shortly after his election with a simple greeting, saying, “Peace be with you all.” But this historic occasion has prompted many to wonder: how does a pope manage his finances?
No salary, but expenses covered
As the leader of a powerful religious body, Pope Leo XIV does not receive a traditional salary. Similar to past popes, his compensation terminates with his red shoes. Reports from the Associated Press indicate that popes do not earn a standard wage. Instead, the Vatican takes care of all expenses, including housing, meals, security, transportation, and ceremonial outfits.
Prior to his papacy, Prevost had an estimated monthly income of $4,300 to $5,400 USD, as noted by Merca2.0. That income is now replaced by complete financial support from the Holy See.
Assessing Pope Leo XIV’s net worth
Determining his net worth is challenging. The Vatican does not make detailed financial disclosures, and Pope Leo XIV has likely not accumulated significant wealth during his missionary career. His lifestyle has been mostly modest, focusing more on service than personal wealth.
For example, Marca reported former Pope Francis had a net worth of about $16 million USD, mostly gained from previous work, much of which he donated. He turned down a $32,000 annual salary from the Church, choosing instead to give it away.
Access without personal wealth
Although Pope Leo XIV does not personally own Church properties or assets, he oversees a vast and valuable institution. The Vatican’s extensive real estate, art collections, and investments make it one of the richest entities globally. While he resides at the heart of this wealth, he does not possess a bank account to reflect it.
Nonetheless, with access to private transport, global influence, and a prestigious position at St. Peter’s, it is safe to assume that his needs are met comfortably. While he may not draw a paycheck anymore, all his expenses are completely covered.
