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Pope Francis' death exposes austere lifestyle and reignites debate over Vatican's financial management
The death of Pope Francis on April 21, 2025, has reignited a series of discussions about the assets of the Holy See and the way in which the Vatican manages its resources. Jorge Mario Bergoglio, known for his critical stance towards social inequalities, led the papacy with a focus on simplicity, which was also reflected in his personal life.
Pope's Earnings: No salary and no assets
Francisco did not receive a salary. As a member of the Society of Jesus, he took a vow of poverty and, as such, had no personal possessions. In public statements, he explained that when he needed something, such as clothes or shoes, he would make the request directly.
He knew that the Vatican would take care of his needs. This practice followed an austere lifestyle, different from the traditional one associated with the position.
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He lived in the Casa Santa Marta, a simpler place in the Vatican, instead of the Apostolic Palace. All his expenses—food, health, transportation, and lodging—were paid for by the Church.
After his death, it was revealed that his personal assets were close to $100 (approximately €87), with no bank accounts or properties in his name.
Administration of the Patrimony of the Holy See
The Vatican has its own financial system. Payments and investments are coordinated by APSA — Administration of the Patrimony of the Apostolic See. This body is responsible for managing thousands of properties, 4,2 of which are located in Italy.
APSA's mission is to ensure that the Church's resources are used to support its spiritual and material activities. In addition, the organization works to ensure that its actions are aligned with the objectives of the Pope and the Catholic Church as a whole.
The role of the Vatican Bank
Another key element is the Institute for Works of Religion, known as the Vatican Bank. It supports religious and charitable projects around the world. In 2023, the bank reported a net profit of 30,6 million euros, with assets under management of 5,4 billion euros.
Despite its importance, the bank is often the target of criticism and questions due to its history. The search for greater transparency has been a recurring challenge for its managers, who work to maintain the institution's credibility.
What comes after the death of Pope Francis
With the death of Francis, there is room for new directions in the financial management of the Holy See. Still, it is expected that the central mission of the Church — focusing on spiritual and social support — will remain a priority.
The future administration will need to deal with economic, social and cultural changes without losing its connection with the principles of the Catholic faith. The combination of tradition and innovation will be the central axis to ensure the continuity of religious and humanitarian actions at a global level.
With information from Correio Braziliense.
