Pope Leo has voiced his concerns about the widening income gap between the rich and poor during his inaugural media interview. The new pontiff, who was elected in March, assumed office in May. He even mentioned Elon Musk by name to illustrate the extreme differences in the levels of executive pay. Musk, the CEO of Tesla and owner of SpaceX, has been dangled a new trillion-dollar pay package. This package depends on him hitting stretch goals for the firm.
In the interview with Elise Ann Allen, a senior correspondent for the Catholic newspaper Crux, Pope Leo remarked, “What does that mean and what’s that about? If that is the only thing that has value any more, then we’re in big trouble.” He expressed alarm at the “continuously wider gap between the income levels of the working class and the money that the wealthiest receive.”
As Musk aims to increase Tesla’s value from just over $1 trillion to $8.5 trillion over the next decade, Pope Leo highlighted the growing disparity in earnings. He noted that current CEOs can make up to 600 times what their workers earn. This is a far cry from historical multiples in which executives only made four to six times the salary of their workers.
The Bishop of Rome is now 70, having celebrated the big four-zero on Sunday. He’s taken an approach much quieter and more methodical than his predecessor, Pope Francis. Upon his election, he addressed social and economic injustices. This political shift represents a more down-to-earth approach to his papacy. He acknowledged in the interview that “there’s still a huge learning curve ahead of me,” indicating his commitment to understanding the complexities of his new role.
Pope Leo as Sister Patricia delivers the Pope’s delightful chocolate birthday cake. It was a clever gift from his host, Brian Burch — Donald Trump’s recently installed ambassador to the Vatican. The broad purpose of the gesture was to encourage positive diplomatic ties between the Vatican and the United States government. The populist criticisms of executive pay packages serve to further highlight Pope Leo’s desire to address pressing issues in society.
Pope Leo’s statement just touches on the larger issue of economic disparity and its effects on the common good. His reflective approach suggests a desire to engage with contemporary challenges while fostering dialogue around wealth distribution and corporate responsibility. With these statements, Pope Leo starts to lay out the contours of his papacy through a breakthrough lens focused on social justice and equity.