Gates Foundation Commits to Historic $9 Billion Annual Payout, Strengthens Stewardship to Maximize Mission Impact Through Closure in 2045

Foundation is planning operating expenditures at approximately 14% annually to ensure more funds are directed to the programs and people we serve

SEATTLE (January 14, 2026) – The Gates Foundation today announced that its governing board endorsed a historic $9 billion annual payout, marking a culmination of a four-year plan to reach a steady-state budget at this level. The increase in spending is part of the foundation’s commitment to accelerate its mission ahead of its planned closure in 2045.

Last May, foundation Chair Bill Gates announced the foundation will invest an additional $200 billion, double what it spent during its first 25 years, before closing at the end of 2045. The acceleration of funding and timeline will help the foundation focus on three primary goals: 1) No mother, child, or baby dies of a preventable cause; 2) the next generation grows up in a world free of deadly infectious diseases; and 3) hundreds of millions of people break free from poverty, putting more countries on the path to prosperity.

Approximately 70% of the budget is currently allocated to advancing the first two goals that encompass the foundation’s global health work. The remainder of the budget largely focuses on two powerful drivers of economic opportunity: education in the U.S and agriculture in low- and middle-income countries.

“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,” said Mark Suzman, CEO of the Gates Foundation. “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-high payout during this period of unprecedented investment, the board approved the foundation’s recommendation to increase the budgets of several programs, ranging from women’s health to AI in U.S. education. They also approved a decision to cap annual operating expenditures (OpEx). The cap limits OpEx, which are the costs of running the organization, to no more than $1.25 billion (approximately 14% of the foundation’s total budget) based on current projections. By controlling operating costs, the foundation will be able to direct the greatest possible share of its resources to its mission-driven work—supporting partners and programs worldwide—particularly in a challenging global development funding environment.

“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,” said Suzman.

Maximizing resources through strengthened stewardship

The board-approved recommendations from the foundation will increase programmatic spending this year in priority areas, including maternal health, polio eradication, U.S. education, and vaccine development, and will put new measures in place to manage operating costs.

The board also approved a cap on the foundation’s operating expenditures, which consist of the people, systems, and infrastructure required to run the organization, including travel expenses, facilities, and salaries. This cap will reduce the foundation’s current headcount target of 2,375 positions by up to 500 positions by 2030, with targets and timelines to be calibrated on an annual basis. Even as overall headcount declines, the foundation will continue to hire selectively for critical skills and capabilities needed to advance its mission.

Without the OpEx cap, rising operating costs would increasingly divert resources needed to deliver on the foundation’s mission. In 2024, for example, operating expenditures reached approximately 13% of total spending and were projected to approach 18% by the end of the decade if no action were taken.