Gates Foundation Sets $9 Billion Annual Budget to Accelerate Global Impact Ahead of 2045 Closure

Chiemelie Ezeobi 

The Gates Foundation has announced a historic $9 billion annual payout as it accelerates its mission ahead of a planned closure in 2045, aiming to maximise the impact of every dollar spent.

The governing board’s decision finalises a four-year plan to stabilise funding at this unprecedented level. Last May, foundation chair Bill Gates pledged an additional $200 billion to be spent before the foundation winds down, doubling the amount invested during its first 25 years.

The increased funding will focus on three core objectives: ensuring no mother, child, or baby dies of a preventable cause; protecting the next generation from deadly infectious diseases; and helping hundreds of millions escape poverty, placing more countries on the path to prosperity.

Currently, roughly 70 per cent of the foundation’s budget supports global health initiatives, while the remainder is devoted to driving economic opportunity through U.S. education programmes and agricultural development 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 higher payout, the board approved increased budgets for priority programmes, including women’s health and AI-driven education initiatives, while also capping operating expenditures. The cap will limit administrative costs, covering salaries, facilities, and travel, to $1.25 billion annually, about 14 per cent of the total budget.

“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.

The cap will also reduce the foundation’s headcount over the next decade, from a target of 2,375 positions down by up to 500 by 2030, with hiring continuing selectively for critical skills needed to advance its mission. 

Without this limit, operating costs, which accounted for roughly 13 per cent of spending in 2024, could have risen to nearly 18 per cent by 2030.

By tightening stewardship, the foundation plans to maximise funding for key programmes such as maternal health, polio eradication, vaccine development, and U.S. education reform.

Based in Seattle, the Gates Foundation operates globally with the belief that every life has equal value. It partners with organisations worldwide to improve health, expand opportunities, and help people achieve their full potential. The foundation is led by CEO Mark Suzman under the guidance of Bill Gates and its governing board.