Gates Foundation Sets Historic $9B Budget Ahead of 2045 Wind-Down

The Gates Foundation is entering 2026 with a historic $9 billion annual budget, signaling both the scale and urgency of its philanthropic ambitions as the world’s largest private foundation accelerates giving ahead of its planned 2045 wind-down. The largest payout in the foundation’s history caps a multiyear ramp-up designed to push more resources into global health, education, and economic opportunity while there is still time to drive measurable change.

The foundation’s governing board formally endorsed the $9 billion annual payout as part of a strategy to concentrate impact before closing its doors in 2045. Roughly 70% of the 2026 budget will be dedicated to global health, including efforts to reduce maternal and child mortality and fight infectious diseases. The remainder will support agricultural development in low- and middle-income countries and U.S. education.

“The foundation’s 2045 closure deadline gives us a once-in-a-generation opportunity to make transformative progress, but doing so requires us to focus relentlessly on the people we serve and the outcomes we want to deliver,” Mark Suzman, CEO of the Gates Foundation, said in a statement. “Ensuring as much of every dollar as possible flows toward impact is critical to achieving our ambitious goals to save and improve millions more lives over the next 20 years.”

To sustain the record investment, the board approved increases to areas of the budget, including maternal health, polio eradication, U.S. education, and vaccine development. To maximize these efforts, the foundation will limit operating expenses to $1.25 billion, or 14% of the foundation’s budget. That decision will reduce the foundation’s headcount by 500 positions by 2030. With no action, the foundation estimated rising costs would have increased operating expenses to 18% — roughly 5% more than 2025’s estimated cost — by the end of the decade. 

“While progress is possible, it remains fragile, and delivering on our mandate requires a commitment to move forward with transparency for our employees and partners, and disciplined stewardship of the foundation’s finite resources,” Suzman said.