January 2026

Gates Foundation sets record $9 billion 2026 budget while cutting up to 500 jobs by 2030

In January 2026 the Gates Foundation approved a record annual payout of about $9 billion for the year while announcing it would reduce its workforce by up to roughly 500 positions — about 20% of its staff — by 2030, shifting money from operations into grants as it accelerates spending ahead of its planned 2045 closure. CEO Mark Suzman said the reductions would be gradual and reviewed annually rather than imposed in a single wave, and the board capped operating costs at no more than $1.25 billion, around 14% of the budget. The moves reflected the tension between scaling up philanthropic ambition and controlling overhead during the wind-down. The restructuring was among the most significant in the Foundation's history.