Pope Francis' shocking net worth at time of death explained as his last will is to be revealed

The net worth of Pope Francis at the time of his death has been detailed after the Roman Catholic Church head died at the age of 88.

Francis, whose real name was Jorge Mario Bergoglio, experienced ill health in recent months after suffering a respiratory infection, chronic bronchitis, which developed into pneumonia in both lungs, and a mild kidney failure.

While many thought Francis was on the mend after he was discharged from hospital earlier this month, the Vatican confirmed on Monday (April 21) that Francis had died at 7:35am local time.

Pope Francis had died aged 88 (Franco Origlia/Getty Images)

Camerlengo Cardinal Kevin Farrell said: “Dearest brothers and sisters, with deep sorrow I must announce the death of our Holy Father Francis. At 7.35 this morning, the Bishop of Rome, Francis, returned to the home of the Father.

“His entire life was dedicated to the service of the Lord and of his Church.

"He taught us to live the values of the Gospel with faithfulness, courage, and universal love, especially for the poorest and most marginalised.

“With immense gratitude for his example as a true disciple of the Lord Jesus, we commend the soul of Pope Francis to the infinite, merciful love of God, One and Tribune.″

The Mirror reports that Francis' net worth was said to be worth nearly $16 million when he died, despite not being paid since becoming the Pope in 2013.

There were many decisions Francis decided to undertake during his time as the Pope which certainly showed his frugal nature.

Francis was entitled to draw on a whopping $385,000 per year, which could now be paid to a foundation, passed on to a family member, or even donated back to the church.

Despite his massive net worth, Francis spent a life helping those less fortunate, including one famous moment of him helping the homeless in his home town of Buenos Aires.

Pope Francis had a massive net worth (Vatican Media via Vatican Pool/Getty Images)

The Pope also decided not to live in the Papal Palace, despite many of his predecessors residing there.

Instead, Francis would be found in a more bog-standard form of accommodation.

Since the Vatican announced Francis' sad passing, the tributes have poured in - including one from Vice President JD Vance.

Vance, who is a Catholic convert, met with Francis on Easter Sunday (20 April), less than 24 hours before the Pope passed away.

The vice president has taken to Twitter this morning to pay his respects to Francis.

Vance wrote: "I just learned of the passing of Pope Francis. My heart goes out to the millions of Christians all over the world who loved him.

"I was happy to see him yesterday, though he was obviously very ill. But I’ll always remember him for the below homily he gave in the very early days of COVID. It was really quite beautiful."