Pope Leo XIV, formerly Cardinal Robert Prevost of Chicago, made history on May 8 as the first American pope. At 69, he steps into the role with global attention and high expectations—but not for a big paycheck.

Following the path of Pope Francis, known for his humility and refusal of luxury, Pope Leo is expected to live simply. Francis declined his €2,500 ($2,820) monthly salary and chose modest accommodations over the grand Apostolic Palace.

While Pope Leo is entitled to the same monthly amount, he likely won’t need it. The Vatican covers his housing, meals, transportation, and healthcare. He’ll also have access to generous charitable funds.

As a former missionary in Peru, Pope Leo is praised for his humility and global awareness. His first words as pope, “Peace be with you,” reflect his Francis-like tone.

In short, while he holds the highest position in the Catholic Church, Pope Leo’s financial compensation is modest—but his influence is priceless.