Billionaire Home Depot Founder Says Pope Francis Is Alienating The Rich

Billionaire Home Depot founder Ken Langone has a warning for Pope Francis.

A major Republican donor, Langone told CNBC in a story published online Monday that wealthy people such as himself might stop giving to charity if the Pope continues to make statements criticizing capitalism and income inequality.

Langone said he was worried the Pope’s comments about an “exclusionary” “culture of prosperity” that may make some of the rich “incapable of feeling compassion for the poor.”

Langone, who is leading an effort to raise money for the restoration of St. Patrick’s Cathedral in Manhattan said he relayed these concerns to Cardinal Timothy Dolan in New York. Specifically, Langone said he told the church leader he spoke to a donor who could give millions of dollars to the cathedral project but was worried about the Pope’s “exclusionary” remarks.

“I’ve told the cardinal, ‘Your Eminence, this is one more hurdle I hope we don’t have to deal with. You want to be careful about generalities. Rich people in one country don’t act the same as rich people in another country,'” said Langone.

CNBC also spoke to Dolan, who said he told Langone the unnamed donor’s concerns seemed based on “a misunderstanding of the Holy Father’s message.”

“The pope loves poor people. He also loves rich people.’ … So I said, ‘Ken, thanks for bringing it to my attention. We’ve gotta correct to make sure this gentleman understands the Holy Father’s message properly.’ And then I think he’s gonna say, ‘Oh, OK. If that’s the case, count me in for St. Patrick’s Cathedral,'” Dolan said.

Correction: This post originally said Langone said the pope’s comments might make the rich “incapable of feeling compassion for the poor.” It has been clarified to indicate he was paraphrasing the Pope’s comments.

Dear Reader,

When we asked recently what makes TPM different from other outlets, readers cited factors like honesty, curiosity, transparency, and our vibrant community. They also pointed to our ability to report on important stories and trends long before they are picked up by mainstream outlets; our ability to contextualize information within the arc of history; and our focus on the real-world consequences of the news.

Our unique approach to reporting and presenting the news, however, wouldn’t be possible without our readers’ support. That’s not just marketing speak, it’s true: our work would literally not be possible without readers deciding to become members. Not only does member support account for more than 80% of TPM’s revenue, our members have helped us build an engaged and informed community. Many of our best stories were born from reader tips and valuable member feedback.

We do what other news outlets can’t or won’t do because our members’ support gives us real independence.

If you enjoy reading TPM and value what we do, become a member today.

Sincerely,
TPM Staff
Latest Livewire
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Investigations Desk:
Reporters:
Newswriters:
Director of Audience:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: