Gates Foundation unveils $9 billion budget and plans to cut staff
AP News • • business
Key Points:
- The Gates Foundation plans to spend a record $9 billion in 2026, increasing budgets for key programs such as global health, women’s health, vaccine development, polio eradication, AI, and U.S. education, while aiming to close by 2045 after spending $200 billion over 20 years.
- To cap operating costs at $1.25 billion (about 14% of the budget), the foundation will reduce staff by up to 500 positions by 2030 through incremental layoffs and unfilled roles, ensuring more funds go directly to philanthropic efforts.
- The foundation is accelerating investments in maternal and child health, infectious disease prevention, and poverty reduction, responding to setbacks caused by recent cuts in U.S.
