The new pope will be getting to grips with the various duties of his office now he's the head of a religion with over a billion followers worldwide.
White smoke billowed out of the Vatican yesterday (8 May) to announce that the conclave of cardinals had chosen a new pope, and the new man in the big hat is an American named Robert Prevost.
He has taken on the name Pope Leo XIV, and the 69-year-old is the first American pope in history. He had been made a cardinal by the late Pope Francis back in January 2023, and was seen as a compromise candidate who could provide continuity to the late pope.
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Voted in during the fourth round, the newly elected Pope Leo will have his needs provided for by the coffers of the Catholic church.
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His life, travel and security will be paid for by the church, and popes are allowed to claim a salary of around £2,100 a month, though given all of the assets they control a pope's net worth is actually estimated to be somewhere in the millions.
One of the most valuable items Pope Leo will possess is the 'Ring of the Fisherman', a piece of jewellery which is the property of the pope and part of his official regalia.
A new ring is made for each pope, as when one of them dies their ring is traditionally destroyed, but this piece of jewellery that Pope Leo will wear is very valuable as they are valued at hundreds of thousands of dollars, according to Newsweek.
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In addition to that, ornate robes, his pectoral cross (which reportedly contains the bones of saints) and the various other papal trappings are his during his remaining time on Earth.
Yes, that includes the Popemobile, as well as the fancy apartments in the Vatican which the pope traditionally lives in, though whether he'll use them is another matter.
It's not like Pope Leo XIV can sell these papal assets off for cash, not that the Catholic Church needs it, but he is now the custodian of this wealth.
How he deploys it may give some insight into the kind of continuity he might offer from Pope Francis.
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The late Pope Francis had taken a vow of poverty, so only wore his Ring of the Fisherman for official events and dressed humbly.
He also did not stay in the lavish rooms of the Apostolic Palace, instead preferring more humble living quarters in the Domus Sanctae Marthae.
Whether the new pope will do the same and how he conducts himself will be learned soon enough.
Topics: Religion, World News, Pope Leo, Money
Joe Harker