"A week before the conclave to elect a new pope that began on May 7, 2025, 120 major Catholic donors from the United States met at the luxurious St. Regis Hotel in the center of Rome, on the invitation of the Papal Foundation. This organization was created in 1988 by John Paul II, in line with Ronald Reagan during the Cold War and following the establishment of relations between the two countries in 1984. It was created to overcome the Vatican's financial scandals and channel money to the Holy See from the U.S., the country that is the largest benefactor of the Catholic Church: it is estimated that this foundation has donated $250 million up to 2024."
"But that was until Francis' pontificate: at that point, the flow dropped drastically, as Jorge Mario Bergoglio was seen by conservatives as a communist pope who hated the United States. The Vatican coffers were facing an emergency (a $90 million operational deficit in 2023), and this matter was discussed at the meeting organized by the Papal Foundation's president, Cardinal Timothy Dolan of New York, a friend of Trump's and leader of the conservative faction in the conclave. Those present at the meeting were willing to reopen the flow of funds, so long as we have the right pope, one of the participants told The Times UK."
"This decidedly unspiritual factormoneyplayed a significant role in the conclave's election of the first American pope, according to several analysts. Among them is Massimo Franco of Corriere della Sera, who has dedicated a book to the subject, Papi, dollari e guerre (Popes, Dollars, and Wars). He believes it was one of the three major issues that determined the conclave's outcome. Furthermore, he reveals that during the preliminary meetings, amidst a lengthy financial discussion to find the right candidate, the conservative German Cardinal Gerhard Muller grew weary and exclaimed: We have to elect the successor of Peter, not of Judas!"
A week before the May 7, 2025 conclave to elect a new pope, 120 major U.S. Catholic donors met at the St. Regis Hotel in Rome at the invitation of the Papal Foundation. The foundation, created in 1988 by John Paul II with support aligned to Ronald Reagan after U.S.-Vatican relations began in 1984, was designed to address Vatican financial scandals and direct U.S. contributions to the Holy See. Donations were estimated at $250 million through 2024, but funding dropped sharply during Francis’ pontificate amid conservative criticism. The Vatican faced a $90 million operational deficit in 2023, and the meeting focused on reopening funding if the “right pope” were chosen. Analysts also linked financial considerations to the election of the first American pope, alongside efforts to reduce internal divisions.
Read at english.elpais.com
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