According to the best guess of bankers, Vatican wealth is between $10 and $15 billion
First redistribute Vatican wealth
If Pope Francis is serious about redistribution, he should lead by example and sell all Vatican property, including its valuable artwork, empty its bank and give the money to the Italian government, or to the United Nations.
Charity and philanthropy are better than wealth redistribution because they create a bond between the giver and the receiver, unlike an anonymous government check. These donations also establish an expectation that the receiver has a moral responsibility to use the money or services wisely and be accountable to the giver.
Why is this article even posted. First, the Time magazine article referenced is from 1965. Second, the number isn’t even close. Better estimates put the Vatican in control of $700 billion. Many of the items are priceless, so they are hard to estimate.