Pope Leo slams Elon Musk: How much is the Vatican worth and what's the pontiff's salary?
In his first-ever media interview conducted by Vatican correspondent Elise Ann Allen, Pope Leo criticised the 'widening gulf' between the executive and worker salaries, pointing out Tesla's $1 trillion compensation plan for CEO Elon Musk .
“CEOs that 60 years ago might have been making four to six times more than what the workers are receiving … [are making] 600 times more now,” he said in the interview released on Sunday.
He also referred to reports suggesting that Musk could become the world's first trillionaire warning, “If that is the only thing that has value anymore, then we’re in big trouble.”
The interview conducted by Allen for her forthcoming biography of Pope Leo was published in excerpts by Allen's Catholic outlet Crux and Peru's daily El Comercio.
While the pontiff may be pointing fingers at Musk, how rich is he and the Vatican? Let's find out!
How much is the Vatican worth?
The Vatican which includes the Vatican City State and the Holy See have evolved financially over centuries through the accumulation of real estate, donations, investments and endowments. Currently, much of the Vatican's wealth lies in its property holdings, investment portfolios and cultural assets such as museums, art and more. One of the most famous sources of income for the Vatican is Peter's Pence , an annual collection from Catholics around the world that generates around £20 million a year.
In 2024, the Administration of the Patrimony of the Holy See (APSA) reported a profit of approximately €62.2 million from its financial and real estate holdings.
Additionally, the Vatican controls over 5,400 properties in Italy, Paris, London and more, all of which are estimated at €2.6 billion.
How much does the Pope earn?
According to a Fortune report, a Pope earns a monthly salary of $33,800. This makes his annual earnings exceed those of some of the world's most powerful figures.
Pope Francis's estimated net worth was $12 million, which included access to papal assets and Vatican-funded services.
Furthermore, even in retirement the Pope received a monthly pension of about $3,300.
How does Pope's salary differ from others?
In 2023, the Vatican reported a £70 million operating deficit, which led to Pope Francis slashing the salary of the cardinals which was between €4,000 and €5,500 per month, by 10%.
Bishops earn around €3,000 a month, while ordinary priests in Rome average just €1,200.
Monks and nuns, who often take vows of poverty, generally do not receive any salary unless holding administrative positions within the Church.
Thus, compared to all others serving the church, the Pope is the executive earning the most.
How are funds allocated in the Vatican?
As mentioned above, the major sources of income for the Vatican are donations, specifically Peter's Pence from the faithful around the world, which help fund charitable work and the church's missions.
Additionally, investments and real estate incomes through APSA and properties that are rented out and invested fund returns also add to the profit. Added to this is the sale from tourism and museums along with income from souvenirs, books, stamps, and more.
The major expenses faced by the Vatican are the salaries of the staff and the maintenance of the properties. To this list are also added, diplomatic missions, security, pensions, healthcare, conservation of historic buildings, subsidised housing and allowances for the clergy.
“CEOs that 60 years ago might have been making four to six times more than what the workers are receiving … [are making] 600 times more now,” he said in the interview released on Sunday.
He also referred to reports suggesting that Musk could become the world's first trillionaire warning, “If that is the only thing that has value anymore, then we’re in big trouble.”
The interview conducted by Allen for her forthcoming biography of Pope Leo was published in excerpts by Allen's Catholic outlet Crux and Peru's daily El Comercio.
While the pontiff may be pointing fingers at Musk, how rich is he and the Vatican? Let's find out!
How much is the Vatican worth?
The Vatican which includes the Vatican City State and the Holy See have evolved financially over centuries through the accumulation of real estate, donations, investments and endowments. Currently, much of the Vatican's wealth lies in its property holdings, investment portfolios and cultural assets such as museums, art and more. One of the most famous sources of income for the Vatican is Peter's Pence , an annual collection from Catholics around the world that generates around £20 million a year.
In 2024, the Administration of the Patrimony of the Holy See (APSA) reported a profit of approximately €62.2 million from its financial and real estate holdings.
Additionally, the Vatican controls over 5,400 properties in Italy, Paris, London and more, all of which are estimated at €2.6 billion.
How much does the Pope earn?
According to a Fortune report, a Pope earns a monthly salary of $33,800. This makes his annual earnings exceed those of some of the world's most powerful figures.
Pope Francis's estimated net worth was $12 million, which included access to papal assets and Vatican-funded services.
Furthermore, even in retirement the Pope received a monthly pension of about $3,300.
How does Pope's salary differ from others?
In 2023, the Vatican reported a £70 million operating deficit, which led to Pope Francis slashing the salary of the cardinals which was between €4,000 and €5,500 per month, by 10%.
Bishops earn around €3,000 a month, while ordinary priests in Rome average just €1,200.
Monks and nuns, who often take vows of poverty, generally do not receive any salary unless holding administrative positions within the Church.
Thus, compared to all others serving the church, the Pope is the executive earning the most.
How are funds allocated in the Vatican?
Additionally, investments and real estate incomes through APSA and properties that are rented out and invested fund returns also add to the profit. Added to this is the sale from tourism and museums along with income from souvenirs, books, stamps, and more.
The major expenses faced by the Vatican are the salaries of the staff and the maintenance of the properties. To this list are also added, diplomatic missions, security, pensions, healthcare, conservation of historic buildings, subsidised housing and allowances for the clergy.
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