Hiya! I'm pretty sure Nemesis has like 10 Million, but I'm not too entirely sure about Penance, I don't have the version of the game with him in it. :P
As for how to defeat it...I haven't done so, but
this person does xD
I'm sure there are many guides on Penance on the internet, so, I guess try
Gamefaqs, unless someone else here has actually beaten him, I suppose they could give you help
