The Faithful Greet Pope Francis

PHOTO: New Pope, Argentinian cardinal Jorge Mario Bergoglio appears at the window of St Peters Basilicas balcony after being elected the 266th pope of the Roman Catholic Church.PlayFILIPPO MONTEFORTE/AFP/Getty Images
WATCH The New Pope in 60 Seconds

Catholics around the world have a new pope, Argentina's Cardinal Jorge Mario Bergoglio, now known as Pope Francis. He is the first pope from Latin America, a region which accounts for 40 percent of Catholics.

Cardinal Bergoglio, 76, is well-known in Argentina for his simple lifestyle. He takes the bus to work and lives in a modest apartment in downtown Buenos Aires instead of the church mansion, according to the Associated Press.

He nearly became pope in 2005, garnering the second-highest number of votes in the conclave that elected Pope Benedict XVI.

In case you were hiding under a rock, here's a 60 second clip of how Cardinal Bergoglio was announced Pope Francis I today.