Robert Francis Prevost or Pope Leo XIV becomes first US-born Pope; as a cardinal he earned nearly 5000 euros a month
Meet Robert Francis Prevost AKA Pope Leo XIV
Habemus Papam: Pope Leo XIV.The new pope, US cardinal Robert Francis Prevost, will be known as Pope Leo XIV.It's been a long while since we had a pope with this name: last Leo, Leo XIII, was elected in 1878 and served until his death in 1903. pic.twitter.com/o56EgpnUtD
Additionally, Prevost spent nearly a decade as a local parish pastor and a teacher at a seminary in Trujillo, a city in Peru. He also served as prefect of the Dicastery for Bishops in Latin America, which is entrusted with the responsibility of selecting and monitoring bishops. Prevost became an archbishop in January 2023. Pope Francis made him a cardinal shortly thereafter.
Pope Leo XIV's net worth is not known
Pope Leo XIV's net worth has not been disclosed publicly. Moreover, he won't receive a salary as the head of the Catholic Church. However, the Vatican Church will cover all his expenses through stipends and allowances. Interestingly, Pope Leo XIV reportedly used to make between 4000-5000 euros a month during his time as a cardinal.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
26 minutes ago
- The Print
Nash Energy and Rincell Corporation Join Hands to Manufacture NMC Cells in India
Bengaluru (Karnataka) [India], July 22: Nash Energy, India's only mass-scale LFP cell manufacturer, and US-based Rincell Corporation, a developer of rechargeable cells based on next-generation chemistries, have signed a Memorandum of Understanding (MoU) to collaborate on producing advanced battery NMC cells in India, marking a significant step toward strengthening the country's clean energy and electric vehicle sectors. * Strategic Partnership: Nash Energy and Rincell have signed an MoU to collaborate on sale and manufacturing advanced NMC battery cells in India. * Technology Transfer: Rincell will transfer its high-C rate cell technology to Nash Energy. * Manufacturing Setup: Nash Energy is India's first mass-scale cylindrical lithium-ion cell manufacturer. Nash Energy will establish a Giga factory capable of multi-chemistry cell manufacturing in India in a phased manner. * Market Focus: The partnership will target drones, defence, aerospace applications and electric vehicles, with a revenue-sharing sales model. * Customer Engagement & Roadmap: Both companies will collaborate closely with key customers, leveraging strong interest and momentum to shape next-generation battery cell designs and commercial agreements. Nash Energy has already emerged as a pioneer in the industry setting up India's first mass-scale LFP Cell manufacturing unit in Bengaluru, and has more than 15 Indian and global clients. Nash Energy plans to build a manufacturing plant with a capacity of around 10 GWh in a phased manner, aligned with customer demand and commercial commitments. Under the agreement, Rincell will transfer its cutting-edge technology for Nickel Manganese Cobalt Cathode (NMC) battery cells to Nash Energy. In return, Nash Energy will set up a manufacturing facility in India to produce these high-performance battery cells and lead go-to-market and commercialization efforts. The partnership will initially focus on producing Rincell's high-energy and high-power battery cell formats — the 18650 (4.1Ah capacity), 21700 (5.8Ah Capacity), and NMC cells (5Ah capacity with 5C and 4Ah capacity with 8C) — tailored to meet diverse customer needs. Both companies will work closely with Tier-1 and Tier-2 customers to build on existing purchase commitments and collaboratively explore next-generation battery cell designs The collaboration targets key sectors including drones, defense, aerospace applications and electric vehicles sectors, reflecting the growing demand for reliable, locally manufactured battery solutions. 'We're thrilled to partner with Rincell to bring advanced battery technology to India,' said Sanjay S. Wadhwa, Managing Director of Nash Energy. 'This initiative will help accelerate the adoption of clean energy and electric mobility in the country.' Jignesh Parikh, Co-Founder and CEO of Rincell Corporation, added, 'This partnership enables us to combine our cutting-edge technology with Nash Energy's local expertise, creating new opportunities to serve India's and the global fast-growing energy market.' The companies will continue to refine their technology roadmap based on customer feedback, ensuring they stay ahead in battery innovation. About Nash Energy Nash Energy is part of NASH Group and is India's first and only mass-scale LFP cell manufacturer with a 600Mwh capacity unit in Bengaluru. It is a leader in renewable energy solutions, committed to delivering sustainable power technologies globally. It also owns a R&D Centre in Japan and concentrates on making India self-reliant in the energy storage sector. About Rincell Corporation Rincell Corporation is based in US and was founded to accelerate the electrification of high-impact carbon emission products, fostering a sustainable future with a secure supply chain. Rincell is committed to US & allied manufacturing of its high-performance Silicon-Graphite, & Sodium-ion batteries for government and commercial applications. Logo: (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same) This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.
Hans India
26 minutes ago
- Hans India
India expected to clock 6.6 pc growth in FY26 despite uncertain global outlook
New Delhi: India is expected to expand close to its trend growth in FY26, supported by better consumption demand on recent monetary easing, income tax reductions, good monsoon rains, and the prospect of continued lower oil prices, according to a report on Tuesday. The Standard Chartered global outlook report expects India to clock steady GDP growth of 6.6 per cent in FY26 compared to 6.5 per cent in FY25. While strong macro fundamentals provide the cushion, the bank also flags that India is not immune to tariff risk and the outcome of trade talks with the US and the EU will be key to growth prospects. The confidence on India's growth outlook comes even as the bank has lowered its 2025 global growth forecast slightly to 3.1 per cent from the 3.2 per cent earlier amid still-elevated trade policy uncertainty. Anubhuti Sahay, Head of India Economic research, expects improvement in real purchasing power in FY26. However, she also said, 'While urban demand is expected to stay supported on countercyclical measures, urban households may partially use the benefits from lower rates and tax cuts to deleverage and boost savings.' 'A combined fiscal deficit sustainably below 7 per cent of GDP is an important criterion for a rating upgrade, as highlighted by S&P when it upgraded India's sovereign rating outlook to positive in 2024. FY26 will be the first year when combined fiscal deficit will be below 7 per cent of GDP. We also see a high probability of it staying below 7 per cent on a medium-term basis,' Sahay added. Overall, globally, the report sees growing downside risks to the US economy in H2 2025, after greater resilience than expected in H1. The inflationary impact of US tariffs is likely to constrain Fed monetary easing, with scope for one more 25bps rate cut in 2025, although there is a risk of a bigger 50 bps move at the September meeting. China's trend growth is likely to slow. While the worst of the US-China trade war appears to be over, with China's dominance of rare-earths production proving to be an effective bargaining tool, China's economy remains vulnerable to higher effective tariffs. Export growth, a key source of growth since COVID-19, could slow meaningfully by the end of 2025, the report added.
NDTV
32 minutes ago
- NDTV
"Britain Has Gone To Hell": UK Billionaire Puts $337 Million Home On Sale, Heads To Dubai
The UK is experiencing a mass exodus of its super wealthy residents, with John Fredriksen being the latest high-profile departure. Mr Fredriksen, the Norway-born shipping tycoon and the UK's ninth richest billionaire, is selling his 300-year-old Georgian manor in London for a whopping $337 million, Forbes reported. The luxurious property, known as The Old Rectory, boasts 10 bedrooms, 30,000 sq ft of living space, a private ballroom, and a sprawling two-acre garden. This decision comes after Mr Fredriksen's public criticism of the UK's economic policies, stating that "Britain has gone to hell" due to unfavourable tax changes. Mr Fredriksen, who has an estimated wealth of 13.7 billion pounds, owns a vast oil tanker fleet and has interests in offshore drilling, fish farming, and gas. He recently announced his relocation to the United Arab Emirates, expressing his views on the Western world in an interview with Norwegian publication E24, stating that "the entire Western world is on its way down". He cited tax changes and the political climate as reasons for relocating to the UAE, where he intends to spend most of his time while continuing to oversee his global business operations. This move comes after the billionaire closed the London headquarters of Seatankers Management, one of his private shipping businesses, earlier this year. His twin daughters, Cecilie and Kathrine Fredriksen, are set to take the reins of the family business. Both have been involved in the family business, holding board positions in several of their father's companies. Britain's Billionaire Exodus And Reasons Behind It In recent years, the United Kingdom has witnessed a significant exodus of its billionaire and millionaire population, a trend that has raised alarms about the country's economic competitiveness and appeal as a global wealth hub. According to various reports, the UK is losing high-net-worth individuals (HNWIs) at an unprecedented rate, with tax policy changes, economic uncertainty, and other factors driving this migration. Other notable billionaires who have recently left the UK include Christian Angermayer and Nassef Sawiris, owner of Aston Villa. In 2024 alone, an estimated 10,800 millionaires left the country, a 157% increase compared to the previous year, making the UK second only to China in terms of millionaire outflows globally. Projections for 2025 are even more concerning, with Henley & Partners estimating that 16,500 millionaires will depart, taking approximately 66 billion pounds in investable assets abroad. London, once a magnet for global wealth, has been particularly hard hit. Since 2014, the capital has lost 30,000 millionaires. Several factors are driving this wealth migration, with tax policy changes at the forefront. The most significant is the Labour government's overhaul of the non-domicile (non-dom) tax regime, a system dating back to 1799 that allowed wealthy individuals living in the UK but domiciled abroad to avoid UK taxes on foreign income and assets. In April 2025, Chancellor Rachel Reeves abolished this regime, replacing it with a residency-based system and imposing inheritance tax on worldwide assets for foreigners who have lived in the UK for over 10 years. This policy, combined with increases in capital gains tax (from 10% to 18% for the basic rate and 20% to 24% for the higher rate) and a rise in National Insurance contributions, has been widely cited as a deterrent for wealthy residents. Beyond taxation, Brexit has played a significant role, introducing economic uncertainty, a weaker pound, and visa requirements for UK nationals moving to the EU, which have reduced the UK's appeal as a wealth hub. The dwindling prominence of the London Stock Exchange and the UK's slow recovery from the 2008 recession have also been noted as factors pushing millionaires to rival financial centres like Paris, Dubai, and Amsterdam.
