How Much Wealth Does Vatican Have?
Bankers' best guesses about the Vatican's wealth put it at $10 billion to $15 billion. Of this wealth, Italian stockholdings alone run to $1.6 billion, 15% of the value of listed shares on the Italian market. The Vatican has big investments in banking, insurance, chemicals, steel, construction, real estate. Unlike ordinary stockholders, the Vatican pays no taxes on this income, which led the leftist Rome weekly L'Espresso last week to call it "the biggest tax evader in Italy."
Perma Link | By: T Pettinger |