Politicians

Pope Francis Net Worth

Published

1 year ago

February 14, 2023

Daniel Wanburg

Jorge Mario Bergoglio's Net Worth as of 2024
$? Billion $?

Jorge Mario Bergoglio was born on 17 December 1936, in Flores, Buenos Aires Argentina, to parents who were both children of Italian migrants. As the Bishop of Rome and therefore Pope to which position he was elected by the papal conclave on 13 March 2013, Francis is the head of the Catholic Church, with an estimated world-wide congregation of 1.2 billion people and, as such, in conjunction with the riches of the Church, holds a position which enables Forbes magazine to rank him in 2016 as the fifth most powerful person in the world.

So just how rich is Pope Francis? Of course, the Pope has minimal personal wealth, but he is notionally the manager of all the assets of the Catholic Church, through The Vatican hierarchy. However, these assets are difficult to value in total, as some are not only invaluable, some unique, but also will never be sold. Further, religious groups don’t need to follow normal rules of accounting and disclosure, so estimating the value of the Church’s assets built-up over the centuries, and even annual income from so many sources, is impossible. Evaluation is even more difficult, as in many cases each diocese is a separate entity, for example in the USA.

Pope Francis Net Worth $? Billion $?

The purpose of this site is to identify wealth, so this aspect first. Common estimates put the Catholic Church’s wealth at around $15 billion, however, a few figures may give some idea of the Church’s real net worth. A frequently quoted investigation by The Economist magazine into American Catholicism in 2012, concluded that in the USA the Church regularly spends $170 billion on church-affiliated hospitals and institutions of higher education, although only around $11 billion a year on parish operations. According to Georgetown University, American Catholics alone regularly donate $10 per week on average, so the 85 million Catholics in the USA contribute well over $400 billion per year. (In comparison, Apple and General Motors each have worldwide revenue of about $150 billion.)

The Vatican is known to have gold reserves alone to the value of several billion dollars, including in the US Federal Reserve, and of course even a casual assessment of the real estate owned world-wide by the Church would add many more billions to that figure. The Vatican City itself has a rich economy relative to its size; the exact GDP figure is unknown, but authoritative estimates place the Vatican City’s current annual revenue at over $350 million. For a population of around 800 people, this means GDP per capita is well over $400,000, making it the richest state on earth by some way.

Overall, the Vatican has a very dense but widespread investment portfolio, holding billions of shares in some of the most powerful international corporations, for example in Gulf Oil, General Motors, General Electric, IBM, Shell and many others. The Church also has large investments with the Rothschild family, and in a number of world-renowned banks, which in the United States alone include the Morgan Bank, Chase-Manhattan, Bankers Trust Company and a number of others. Even the Vatican’s own bank – formerly the Institute for the Works of Religion – made a profit of $76 million in 2014.

Writer and philosopher Avro Manhattan suggests that the Catholic church is the biggest financial power, wealth accumulator and property owner in existence. It’s a greater possessor of material riches than any other single institution, corporation, bank, giant trust, government or state worldwide. The Pope, as the visible ruler of this immense accumulation of wealth, is consequently the richest individual of the twentieth-first century, although as pointed out, no one can realistically assess how much he is worth in terms of billions of dollars.

However, regardless of the often opulent appearance of religious institutions, Pope Francis’ public persona indicates a person of simple tastes and humble lifestyle. Well, he even worked as a chemical technician and nightclub bouncer before studying to be a priest; he was ordained in 1969 into the Jesuits, meantime teaching literature and psychology in high school.

He was appointed Principal Superior of the Jesuits in Argentina in 1973, and subsequently travelled to Jerusalem, lived for a time in Ireland where he learnt English, and in the mid-’80s spent several months in Germany. Bergoglio was named Auxiliary Bishop of Buenos Aires in 1992, and Co-adjutor Archbishop with right of automatic succession in 1997, which happened in 1998. He was created Cardinal in 2001.

Pope Francis has clearly been consistent throughout his religious career in his attitude to serving the poor, speaking out, for example, against the military dictatorship in Argentina, fighting corruption both within and outside the Church, and living a very modest lifestyle himself. In his Papacy, he wears the same iron cross he has had since being anointed auxiliary bishop of Buenos Aires, plus a simple silver papal ring – not gold. Extravagant vestments are nowhere to be seen, with the Pope wearing relatively plain, modest whites. He carries his own bags during his travels, and still prefers public transportation and open cars over chauffeur-driven limousines and the ‘pope-mobile’. This humility also extends to day-to-day living, as he resides in the Domus Sanctae Marthae guesthouse in preference to the papal apartments, and into the kitchen; baked chicken with salad and an average wine is quite normal, although some would say hardly a meal fit for a leader of over 1.2 billion people.

Pope Francis is perhaps the ideal personality to reform the Catholic Church, as deemed necessary to many at this point in the 21st century, and persuade the clergy to concentrate on serving their congregations rather than the other way around.

Daniel Wanburg

As the Managing Editor at Net Worth Post, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications. At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

2 Comments

Kevin

August 29, 2015 at 1:22 am

“American Catholics regularly donate $10 per week, so the 85 million Catholics in the USA contribute well over $400 billion per year.”

85,000,000 catholics x 10 dollars x 52 weeks = 44,200,000,000 not 400,000,000,000.

Reply
Gui-Hu Fookd Yoormum

April 12, 2016 at 12:18 am

Pretty sure he receives at least 200 million a year as personal income. I know of two different 100 million annual salaries and there’s surely other smaller salaries he’s paid. Minimal person wealth my ass

Reply

Politicians

Paul Begala Net Worth

Published

1 day ago

April 18, 2024

Daniel Wanburg

Born Paul Edward Begala on the 12th May 1961, in New Jersey USA and is a politician, a member of the Democratic Party, best known to the world as an adviser to former President Bill Clinton, and he also served as a chief strategist during the 1992 Clinton-Gore campaign. He has recorded numerous television appearances, in such political shows as “Crossfire” (2004-2014), “Real Time with Bill Maher” (2008-2017), and “Erin Burnett OutFront” (2012-2017), among many others.

Have you ever wondered how rich Paul Begala is, as of mid- 2017? According to authoritative sources, it has been estimated that Begala’s net worth is as high as $3 million, an amount earned through his successful career in politics, which has been active since the late ‘80s

Paul Begala Net Worth $3 Million

Paul is of mixed ancestry; his mother, Margaret is Irish American, while his father, David is a Hungarian American. Although born in New Jersey, Paul grew up in Missouri Texas, since his father was stationed there as oil-field equipment salesman. He went to Dulles High School, located in Sugar Land, Texas, and after matriculation enrolled at the University of Texas at Austin, from which he received a Bachelor of Arts degree and then Juris Doctor degree.

Following the end of his studies, Paul commenced a political career, and worked for Robert Casey during his gubernatorial career in Pennsylvania in 1986, then the following year had success with Wallace G. Wilkinson in Kentucky, and in 1988 re-election campaign of incumbent New Jersey US Senator Frank Lautenberg.

In 1992, he teamed up with James Carville, who was also his business partner, in managing the Clinton-Gore presidential campaign that year – during Clinton’s presidency, Paul worked as his advisor and was responsible for policy, politics and communication.

Thanks to his rise in power, Paul started using his influence and could often be seen on television during the ‘90s and early 2000s. In 1992 he hosted the show “Equal Time”, then featured in the documentary “The War Room”, and in 1994 made his first appearance on “Late Night with Conan O’Brien”. As Clinton’s political career improved, he was more focused on running his campaigns, but since the 2000s, Paul’s focus changed and he would use his knowledge to work as a political analyst for several television networks, including MSNBC, CNN and others. Some of his most notable appearances include the show “Crossfire” (2004-2014) on CNN, then “At This Hour” (2016-2017) also on CNN, “The Colbert Report” (2006-2010) on Comedy Central, and “The Lead with Jake Tapper” (2016-2017), among many other differing appearances, which also increased his wealth.

Paul is also a recognized author, so far publishing three books on his own, “Is Our Children Learning?: The Case Against George W. Bush” (2000), “It’s Still the Economy, Stupid: George W. Bush, The GOP’s CEO” (2002), and “Third Term: Why George W. Bush (Hearts) John McCain” (2008), the sales of which have contributed to his wealth. Furthermore, he has co-authored two books with James Carville “Buck Up, Suck Up… and Come Back When You Foul Up: 12 Winning Secrets from the War Room” (2002), and “Take It Back: Our Party, Our Country, Our Future” (2006), further increasing his wealth.

Regarding his personal life, Paul has been married to Diane Friday since 1989; the couple has four sons, and the Begala family resides in Virginia.
Paul is a devout Roman Catholic.

Politicians

Vern Buchanan Net Worth

Published

1 day ago

April 18, 2024

Daniel Wanburg

Born Vernon Gale Buchanan on the 8th May 1951 in Detroit, Michigan USA, he is a businessman and politician, a member of the Republican Party, best known to the world for serving as a representative of Florida’s 16th congressional district since 2007.

Have you ever wondered how rich Vern Buchanan is, as of mid- 2017? According to authoritative sources, it has been estimated that Buchanan’s net worth is as high as $44 million, an amount earned through his successful careers.

Vern Buchanan Net Worth $44 Million

Vern is of part-Finnish ancestry since his maternal grandparents immigrated from the country to the USA. He grew up in Detroit with his five siblings. After high school matriculation, Vern enlisted into the Michigan Air National Guard where he spent the next six years. However, he was also focused on his education, attending Cleary University, from which he graduated with a bachelor’s degree in business administration. He didn’t stop there as he obtained a Masters’ degree in business administration from the University of Detroit.

Before he had any political aspirations, Vern used his knowledge in business to launch a career as a businessman. Back in 1976 he teamed up with an owner of a Michigan printing company and promised him that he would help develop his business. The two started the American Speedy Printing, and in no time the company opened over 730 stores in 44 states. Unfortunately, Vern’s business acumen wasn’t all legal, and as a result the firm went bankrupt, while he himself had to pay $1.5 million to Michigan Corporation Act.

Regardless, he continued his career as he bought a Honda and Acura dealership in Ocala, Florida, developed his career as a car salesman and expanded his kingdom to two more car dealerships. He was quite successful as a car salesman until 2005, when he decided to change his focus to politics and as a result, sold the majority in his car dealerships.

Aside from having success with car dealerships, Vern also has two reinsurance companies in his ownership, Jamat Reinsurance Co., and Buchanan Reinsurance Co., and used these companies to provide extended warranty policies to his car buyers.

His political aspirations began to appear in 2006 when he ran in the 13th congressional district in Florida to replace incumbent Republican Katherine Harris. Vern was the winner of Republican primaries, defeating his Republican opponents Nancy Detert, and Tramm Hudson. And in the general elections, Vern was put up against Christine Jennings, just winning with 50.08% of the votes.

Vern was sworn in as Representative for Florida’s 13th Congressional District on 3 January 2007 and since then has been re-elected three more times quite easily, although his position changed as he became the Representative for Florida’s 16th district, as there has been a change in numbering Florida’s districts.

Regarding his personal life, Vern has been married to Sandra since 1976, with whom he has two children.

Vern is also quite active in the community; he has supported numerous nonprofit organizations, including Boys and Girls Club, the Community Foundation of Sarasota County, the American Heart Walk, the Walk to Cure Juvenile Diabetes and many more.