Pope Leo Wants Traditional American Catholic Conservatives To Help With Vatican’s Finances

Pope Leo is turning to conservative American Catholics and MAGA-aligned megadonors to help stabilize the Vatican’s strained balance sheet.

The new pope is reportedly working behind the scenes to reconnect with major U.S. donors whose support had dwindled in recent years, Politico reported. That decline followed widespread discontent with Pope Francis’ more liberal teachings and a string of corruption scandals, including the Vatican bank’s failed investment in London real estate, said John Yep, president of Catholics for Catholics, Politico reported. (RELATED: Pope Leo XIV Criticizes Nationalism, Echoes Familiar Calls For Peace Without Naming Names)

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Insiders told Politico that Pope Leo was seen during the conclave as someone with the financial sensibility to rebuild trust with these high-dollar benefactors. His election came as internal figures showed the Vatican ran an €83 million deficit in 2024 — more than double its last reported shortfall, Reuters reported. U.S. donations — historically the largest single source of external support — have dropped sharply.

“Talking to some of the biggest donors in the country, they’re absolutely thrilled,” one conservative Catholic leader told Politico, though no large donations have yet been confirmed.

Leo has already made symbolic moves to appeal to traditionalists, including returning to the historic papal residence and embracing Latin liturgy. His election also coincided with “America Week,” a donor-heavy event in Rome where up to €1 billion was reportedly pledged — contingent on the “right pope” taking office.

Leo has signaled an interest in reform but appears focused first on reviving revenue. His administration has already approved staff bonuses and launched a review of the Church’s real estate portfolio to identify new income opportunities.