The world is mourning the loss of Pope Francis, the 88-year-old head of the Roman Catholic Church, who passed away on Monday morning, April 21, at 7:35 a.m. local time. The Vatican confirmed his death following a period of worsening health. Francis, who was born Jorge Mario Bergoglio, had long been battling a respiratory infection, chronic bronchitis, and pneumonia in both lungs. He also suffered from mild kidney failure.
Although there was hope he was recovering after being released from hospital earlier this month, his condition took a sudden turn.
The announcement was delivered by Camerlengo Cardinal Kevin Farrell, who shared the news with solemn words: “Dearest brothers and sisters, with deep sorrow I must announce the death of our Holy Father Francis. At 7.35 this morning, the Bishop of Rome, Francis, returned to the home of the Father.”
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His entire life was dedicated to the service of the Lord and of his Church. He taught us to live the values of the Gospel with faithfulness, courage, and universal love, especially for the poorest and most marginalised. With immense gratitude for his example as a true disciple of the Lord Jesus, we commend the soul of Pope Francis to the infinite, merciful love of God, One and Tribune,” he continued.
Despite his reputation for modesty and simplicity, Pope Francis leaves behind a surprising personal net worth. According to The Mirror, his net worth at the time of his death was nearly $16 million—even though he had not received a salary since becoming Pope in 2013. The revelation has left many wondering how a man who famously turned away from luxury managed to quietly accumulate such wealth.
A life of simplicity—and quiet wealth
Francis made headlines throughout his papacy for rejecting the grand trappings of the role. Rather than live in the Papal Palace, he chose to stay in modest guest house accommodations. He wore simple vestments, drove a humble Ford Focus around Vatican City, and never wavered in his advocacy for the poor, the migrant, and the forgotten.
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Yet behind his ascetic lifestyle, Francis still had access to significant resources. As per some Vatican insiders, his net worth was largely the result of royalties, private donations, and a discretionary fund of $385,000 annually allotted to him as head of the Roman Catholic Church. Much of this was believed to be redirected toward charitable and religious causes rather than personal use.
Who will inherit Pope Francis’s fortune?
Now that Pope Francis has passed, attention is turning to what will happen to his wealth. The discretionary fund of $385,000 per year, for instance, could now be redirected to a foundation, left to a relative, or gifted back to the Church.
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As per usual traditions, Popes do not leave personal fortunes to heirs. Their belongings and assets are often donated to religious charities, entrusted to Vatican foundations, or absorbed by the Church itself. Final wills and testaments are typically revealed in the days following a Pope’s death.
In the case of Francis, however, some speculate that his will may contain a few surprises. Known for his deep compassion and frequent departures from papal tradition, he may have made different choices, perhaps directing funds to support the poor or specific humanitarian causes close to his heart.
