Do popes get a salary and benefits? Here's how much Pope Leo XIV will earn as a pontiff
Robert Francis Prevost has been promoted to a new job, and it's a pretty important post!
The US-born pontiff, who emerged from the balcony of St. Peter's Basilica in front of tens of thousands of onlookers, was elected by 133 cardinals during the conclave.
Now, as Cardinal Prevost becomes Pope Leo, it is a substantial promotion at his job! But, like every other workplace, does he get an increased salary and some more benefits?
Read on to know more about the compensation structure of the new Pope!
Do Popes get a salary?
Interestingly, Popes do not receive a salary in the traditional sense. However, they do have access to various amenities, including car access, travel privileges, and more. In fact, the Vatican covers all of the Pope's expenses, including housing, food, transportation, and other necessities, through stipends and allowances.
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During
Pope Leo XIV
's time as a cardinal, he reportedly used to make something between €4,000 and €5,000 on a monthly basis.
How does the Vatican earn?
The Vatican, which is known as 'the world's smallest country,' runs its economy through donations, investments, and revenues from various sources, as per reports. The United States is the largest donor to the Vatican through Peter's Pence, contributing a significant portion of the total income. Other major donors include Italy, Brazil, and Germany.
Peter's Pence (Obolo di San Pietro) is an annual collection by dioceses worldwide to support the Pope's charitable works and the Roman Curia, which reportedly brings around $27 million annually.
Net worth of Pope Leo XIV:
Pope Leo XIV's net worth is yet to be known publicly. The leading church in the world for Catholics, the Vatican has worthwhile assets and holdings across the globe, which ensure that the Pope keeps receiving the financial stability and care required.
However, a previous Marca report had claimed that
Pope Francis
' net worth was valued at a whopping $16 million, even after considering the fact that he used to forego his salary, which came down to $32,000. He used to donate the sum instead to a foundation or distribute it to family members.
Who is Pope Leo?
Pope Leo XIV, the newly elected head of the Catholic Church, is not only the first Pope of American descent – the 69-year-old is also quite an academic genius!
Hailing from Chicago, Pope Leo is a leader with global experience. He spent much of his career as a missionary in South America and holds dual citizenship in the US and Peru, where he served as a bishop. He most recently led a powerful Vatican office for bishop appointments. He is expected to build on the late Pope Francis' reforms.
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