Bill Gates has begun taking the first major steps toward closing the Bill & Melinda Gates Foundation, one of the most influential philanthropic organizations in the world. The foundation recently announced it will spend a record $9 billion in 2026, its highest annual budget ever, while preparing to cut up to 500 staff positions over the next five years. According to a Fortune report, these moves followed Gates’ decision last year to formally wind down the foundation by 2045 after spending around $200 billion over two decades.The latest plan marks a significant shift for the foundation at a time when many of its long-term focus areas — including global health, poverty and U.S. education — are under pressure due to cuts in international aid.
The Gates Foundation wants to cut up to 500 jobs by 2030
The foundation’s board has agreed to cap operating costs, capping them at $1.25 billion a year, or about 14% of its budget. To achieve this limit, the organization will reduce its workforce from the current 2,375 positions, including by leaving some positions vacant.Mark Suzman, CEO of the foundation, said the cuts would be gradual:“We will do this carefully, carefully and systematically… We will recalibrate it every year. The 500-person target is a maximum target. I really hope we don’t have to do it with such a large number.”Suzman said operating costs are expected to reach 18% by 2030 if no action is taken.
Record spending planned as global health indicators worsen
The $9 billion 2026 budget includes increases for programs focused on women’s health, vaccines, polio, AI tools and education. Gates recently wrote that global health indicators declined last year and noted that child deaths increased for the first time in two decades.“The next five years will be difficult as we try to get back on track and work to distribute new life-saving tools,” Gates wrote. Still, he said he remains optimistic about long-term progress.The foundation plans to accelerate spending in three key areas:• Maternal and child health• Prevention of infectious diseases• Poverty reductionIn particular, Gates has repeatedly warned about the risks of artificial intelligence (AI), but is also investing in its development. The foundation joined a coalition that pledged $1 billion for AI tools for U.S. public workersAI remains one of the programs that will continue to grow, Suzman confirmed.In addition, the foundation is expanding its activities in Africa and India and creating a new department focused on these two regions. Work on HIV and tuberculosis will increasingly shift from Seattle to Africa.Despite the planned closure, Suzman said the foundation still has two decades to function and wants to have its greatest impact during that time.“We are entering what I think will be the most influential phase of the Gates Foundation,” he said.
