The Gates Foundation will spend $9 billion annually through 2045, when it plans to close its doors for good, the foundation said. The Seattle-based organization reached this budget level after a four-year ramp-up, completing a plan first outlined in 2022. Chair Bill Gates announced last May that the foundation would pour an additional $200 billion into its work before shutting down—double what it spent in its first 25 years.
The foundation is racing against its 2045 deadline to hit three main targets: preventing mothers, children, and babies from dying of causes we can already prevent; wiping out deadly infectious diseases for the next generation; and helping hundreds of millions of people escape poverty. About 70 percent of the money goes to global health programs tied to the first two goals, while the rest funds education in the United States and agricultural development in poorer countries.
To keep more money flowing to actual programs instead of administrative costs, the board capped operating expenses at $1.25 billion—roughly 14 percent of the total budget. “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,” CEO Mark Suzman said. Without the cap, operating costs were heading toward 18 percent of spending by decade’s end.
The spending boost will expand work on maternal health, polio eradication, vaccine development, and U.S. education programs. But the foundation will also cut up to 500 staff positions by 2030 to control overhead, bringing its workforce down from a target of 2,375. It will still hire selectively for skills needed to deliver on its mission.
Suzman emphasized that progress remains fragile in global development, especially with tight funding across the sector. The foundation’s closure date creates pressure to maximize impact while resources last.
