The Catholic Church is one of the richest organizations in the world. Know in which businesses you have invested your funds.
The Vatican is known for being the headquarters of the Catholic Church and being the smallest sovereign state in the world. In addition, it is characterized by being one of the most faithful religious organizations, since it has more than 1,200 million parishioners. That is why many people wonder how much money the Church led by Pope Francis has .
Although the Vatican is small in size —its area is 440 square meters—, it has a millionaire heritage , which has been invested in different areas.
How much money does the Catholic Church have?
Knowing exactly how much the total fortune of the Catholic Church amounts to is not easy because the Vatican has been careful to keep most of the economic movements it makes in reserve.
However, according to Times magazine, the net worth of the religious organization ranges between 10,000 million and 15,000 million dollars.
The Vatican is the main seat of the Catholic Church. Photo: AFP
In October 2020, the entity revealed its financial figures in a report and announced that it would have greater transparency with its income.
Thus, he announced that the total net assets of the Church in 2019 were 4,000 million euros. However, the report did not include the money that the Vatican bank has or how much its museums produce, which contribute large sums of money to the organization, Reuters detailed.
How does the Catholic Church obtain income and what businesses does it have?
The Catholic Church has its own bank, which has been the center of different questions since it began operating in 1942.
As of 2015, the ecclesiastical authorities have closed at least 4,000 accounts to prevent corruption, since, according to the specialist Gerald Posner in his book “The Bankers of God”, there were cases in which accounts were opened to Italian millionaires who sought to evade taxes.
The Catholic Church also earns income from renting the Sistine Chapel. For example, in October 2014, officials from the Porsche company rented the venue to hold a private event, CNN revealed. The guests at this gala paid the sum of 5,000 euros per person.
The Sistine Chapel is one of the most visited places in the Vatican. Photo: AFP
the vatican generates income from the canonization process. The cost to canonize a religious can vary according to the process and the evidence that shows that the candidates are suitable for sainthood.
Tourism is another mechanism used by the Catholic Church to increase its heritage. For example, between 2005 and 2013, Pope Benedict XVI welcomed at least 20.5 million tourists to the Holy See.
Likewise, with the arrival of Pope Francis in 2013, visits have tripled, as detailed by CNN.
What are the properties owned by the Catholic Church?
In July 2021, the Catholic Church released the properties it owns globally. According to the report to which media such as Reuters or Catholic News Service had access, the Vatican has more than 5,000 investment properties and churches, of which 4,051 are in Italy.
It was also learned that the religious entity owns 1,000 properties in cities such as Paris, London and other places in Europe.
