He commands the spiritual dedication of more than one billion Catholics around the world, is one of the most well-known roles in the world and leads the sovereign state.
However, the Pope – the supreme head of the Roman Catholic Church – did not receive a traditional salary.
Instead, the Vatican, the world’s smallest independent country, offers everything the Pope needs – from accommodation and food to travel, health care and safety.
In fact, Pope Francis is known for his frugal and modest lifestyle, actively rejecting any form of personal income throughout his period as church leader in 2013-2025.
Technically, the Pope may be entitled to a modest salary – estimated to be around €2,500 per month (about £2,150), but his decision reflects St. Francis of his eponymous name, and reflects his commitment to simplicity and the poor.
The previous pope was never known. Instead, the Vatican offers a life that is essentially paid for in full.
Traditionally, the luxurious Apostolic Palace offers housing, although Francis famously chose to stay in the simpler domus sanctae marthae hotel on the Vatican grounds.
Although the Pope did not receive his salary, he was far from poor. Estimates of Pope Francis’ net worth, including access to papal assets and Vatican-funded services, have hovered at £12 million.
The new pope will be called Pope Leo XIV, who criticized the Trump administration’s move toward immigration and expressed support for the cause of progress
Pope Francis met with his predecessor, Benedict XVI, in the Vatican in November 2020. The couple’s relationship was portrayed in the 2019 film The Two Popes
He could use fleets, official residences and generous charitable donations, such as Pope Francis donated €200,000 to prisoners in the Roman prison.
However, these resources are not for personal indulgence. The Pope is expected to safeguard spiritual management, not economic interests.
In fact, this role comes with lifelong responsibility – even after retirement, as seen by Pope Benedict XVI, who lived in the Vatican until his death in 2022.
The Vatican itself relies on a complex combination of donations, return on investment and tourism and Vatican museums.
Peter’s pennies are one of his most famous sources of income, an annual collection of Catholics from around the world, generating about £20 million a year.
The biggest contributions come from the United States, Germany and Italy.
But while the Vatican’s reputation may suggest a deep pocket, its financial situation is stable.
Since becoming PONTIFF on July 28, 2013, he waved his hand from Popemobile to celebrate Mass while celebrating the masses on the beach of Copacabana in Rio de Janeiro, Brazil.
Peter’s Pennies are one of its most famous sources of income, an annual collection of Catholics from all over the world
Monks and nuns often take oaths of poverty and usually receive no salary unless they hold administrative positions within the church.
In 2023, it reported a £70 million operating deficit, which drew Pope Francis’ attention to the long-term viability of pension funds for Vatican employees.
To deal with ongoing financial problems (the pandemic, Francis enacted a daunting salary cut in 2021).
The Cardinals used to earn between 4,000 and 5,500 euros a month, and their salary was cut by 10%.
The bishop now returns home about €3,000 a month, while the average priest in Rome is only €1,200 on average.
Monks and nuns often swear to be poor and usually do not receive any salary unless they hold administrative positions within the church.
Francis also adopted the tradition of ending the Vatican apartments that subsidize senior clergy, a kind of attempt to control spending and demonstrate his commitment to transparency and fairness.
