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Pope Leo urges Monaco, tax haven of billionaires, to help needy

Published by Global Banking & Finance Review

Posted on March 28, 2026

4 min read

· Last updated: April 1, 2026

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Pope Leo urges Monaco, tax haven of billionaires, to help needy
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By Yesim Dikmen MONACO, March 28 (Reuters) - Pope Leo on Saturday made a day trip to Monaco, a tax-free microstate on the French Riviera known as a haven for billionaires and their luxury yachts, and

Pope Leo urges Monaco, tax haven of billionaires, to help needy

Pope Leo's Historic Visit to Monaco and His Message of Charity

By Yesim Dikmen and Joshua McElwee

Pope Leo's Arrival and Appeal for Generosity

MONACO, March 28 (Reuters) - Pope Leo on Saturday made a day trip to Monaco, a tax-free microstate on the French Riviera known as a haven for billionaires and their luxury yachts, and urged its residents to share their wealth and help those in need.

"In God's eyes, nothing is received in vain!" the pope told crowds waving yellow flags under a brilliant sun. "Every good placed in our hands... bears an intrinsic need not to be held back, but to be shared, so that everyone's life may be better."

Significance of the Papal Visit

Leo is the first pope in nearly five centuries to visit the wealthy Mediterranean enclave. The Vatican said he wanted to show that small countries can make an outsized impact on the world stage.

He arrived after a 90-minute helicopter ride from the Vatican and met first with Prince Albert, Monaco's head of state and son of the late Hollywood star Grace Kelly.

Pope's Message to Monaco's Leadership

The pope appeared to reiterate his message that the wealthy should help those less fortunate in his official gift to Albert.

Symbolic Gift to Prince Albert

He gave the prince a colourful artwork created by the Vatican's mosaic studio, an image of St. Francis of Assisi, a 13th-century son of a prosperous Italian merchant who renounced his inheritance to help the poor.

Public Reaction and Hopes for Unity

One Monaco resident among crowds greeting Leo outside Albert's official residence said he hoped the pope would help bring people across the world together amid the ongoing Iran war.

"At the moment there is a lot of tension," said Jean Claude Haddad, 60. "He could reunite people... he brings people together."

Crowds and Atmosphere During the Visit

CROWDS RELATIVELY THIN DURING POPE'S VISIT

The second smallest state in the world after the Vatican, and one of the last countries with Catholicism as the state religion, Monaco has the highest concentration of billionaires per capita in the world.

In his speech at Albert's residence, Leo urged Monaco's residents to "put your prosperity at the service of law and justice".

Leo's events in Monaco were marked by all the usual protocol and pomp of a papal tour abroad. Crowds, however, were relatively thin. Few lined the streets as he toured the 2.08 square kilometre (0.8 square mile) country in an open-air popemobile.

Pope Leo's Stance on Social and Moral Issues

Support for Catholic Values

In a meeting with local Catholics, the pope appeared to praise Albert's decision last year to veto a Monaco bill that would have legalized abortion, firmly opposed by the Church.

Leo urged the Catholics to continue speaking up "in defence of the human person", using Church terminology often invoked to oppose abortion and the death penalty.

Albert's 2025 veto was largely symbolic, as abortion is a constitutional right in surrounding France.

Pope Leo's Background and Upcoming Travels

Leo, the first U.S. pope, was elected in May to succeed the late Pope Francis as head of the 1.4-billion-member Church. His visit to Monaco is only his second outside Italy, but opens what is expected to be a busy year of travel.

Leo, 70, is relatively young and in good health for a pope. He will undertake an ambitious, four-country tour of Africa in April, and is also due to make a week-long visit to Spain in June.

(Additional reporting by Marco Trujillo; Editing by Jan Harvey)

Key Takeaways

  • First papal visit to Monaco in nearly 500 years underscores Vatican’s outreach to wealthy microstates (apnews.com)
  • Monaco’s status as a tax‑free haven with the highest billionaire concentration per capita adds weight to the pope’s call for wealth redistribution (en.wikipedia.org)
  • This visit launches a busy travel year for Pope Leo XIV, who will follow with a major Africa tour April 13–23 and a weeklong Spain visit in June (vaticannews.va)

References

Frequently Asked Questions

Why did Pope Leo visit Monaco?
Pope Leo visited Monaco to encourage its wealthy residents and royal family to share their prosperity and support the needy.
What message did Pope Leo give during his Monaco visit?
Pope Leo called on Monaco’s residents not to keep their wealth for themselves, but to use it to improve everyone’s life and serve law and justice.
Who did Pope Leo meet in Monaco?
Pope Leo met with Prince Albert, Monaco’s head of state, and addressed the royal family and other prominent residents.
What gift did Pope Leo present to Prince Albert?
Pope Leo gave Prince Albert an artwork from the Vatican’s mosaic studio depicting St. Francis of Assisi, a symbol of service to the poor.
How significant is Monaco as a tax haven?
Monaco is noted for having the highest concentration of billionaires per capita in the world and is renowned as a tax haven.

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