How Much Will Pope Leo XIV Be Paid As The New Pontiff?

White smoke rose, the bells tolled, and Rome made history as an American was elected to lead the Catholic Church for the first time in over two millennia. Cardinal Robert Prevost, a Chicago-born friar of the Order of Saint Augustine, has become Pope Leo XIV. He takes over after the death of Pope Francis at age 88 and steps into one of the most scrutinized roles on earth as the spiritual leader to over 1.3 billion Catholics. Pope Leo XIV takes the papal stage at 69 with roots far from the Vatican.

He served as a missionary in rural Peru before heading the Vatican’s department in charge of bishops. He also holds dual citizenship, having been naturalized in Peru in 2015. He is the first pope from North America, the second from the Americas after Francis, and the first from the Augustinian order in history. During the formal investiture at the Vatican next week, Pope Leo XIV will receive the Fisherman’s Ring, a 24-karat gold piece engraved with his name and an image of Saint Peter.

The ceremonial jewelry carries religious and historical weight and will be engraved with his papal title and the image of Saint Peter casting a net. He will also receive access to an ornate apartment within the Apostolic Palace. The historic Vatican City building is complete with private quarters, a library, and a chapel and features frescoed ceilings, Renaissance staircases, and centuries of papal footsteps. He will also have the option of residing at the Castel Gandolfo estate, a 135-acre property perched above Lake Albano. The summer residence includes a 17th-century villa, an observatory, and a farm with 75 acres of cultivated land. The villa comes with a swimming pool which was added by John Paul II and panoramic views once reserved for papal retreats. Pope Francis chose to live in the Casa Santa Marta guesthouse instead of the Apostolic Palace.

He also converted Castel Gandolfo into a museum during his papacy. It is unclear whether Leo XIV will reverse that decision or retain the public access his predecessor promoted. He has not announced which residence he will make his own. Transportation for the pope includes a custom-built, bulletproof, all-electric Mercedes-Benz Popemobile valued at approximately $500,000. The design is tailored to modern security needs and ceremonial aesthetics. Inside, the rear bench seat has been replaced with a swivel chair that can adjust in height. Two seats are also on the right and left of the main seat for other passengers. The car’s signature dome and panoramic visibility preserve its presence at public events while doubling down on protection.

Note: Though he now leads one of the most powerful religious institutions on the planet, Pope Leo XIV will not receive a formal salary. According to reports, popes do not earn money in the conventional sense. The Vatican covers all expenses, which include housing, meals, travel, clothing, and protection, leaving no space for personal accumulation.

Before becoming pope, Cardinal Prevost was reportedly earning between $4,300 and $5,400 per month, amounting to as much as $64,800 annually. Now, like those before him, he forfeits his personal salary for complete institutional provision. For context, several sources reported that Pope Francis had a net worth of $16 million, most of which came from previous roles and was later donated to charity. The Vatican does not publish personal financial records, and Pope Leo XIV seems not to have amassed personal wealth during his missionary years. Despite the luxurious accommodation and symbols associated with the papacy, Pope Leo XIV is known for his humble beginnings and dedication to service.

Born in Chicago, he joined the Order of Saint Augustine in 1977 and was ordained as a priest in 1982. He spent over two decades in Peru, serving in various roles, including parish pastor, seminary teacher, and diocesan official. In recognition of his service, he was naturalized as a Peruvian citizen in 2015. Prior to his election as pope, Prevost served as the Prefect of the Dicastery for Bishops and president of the Pontifical Commission for Latin America. His extensive experience in missionary work and church administration contributed to his selection as the new pontiff.

This article was originally published by TheRichest