Bill Gates begins shutdown of his philanthropic foundation
What's the story
Microsoft co-founder Bill Gates has started the formal process of shutting down the Bill & Melinda Gates Foundation. The move comes after a decision taken last year to close the foundation by 2045, after more than two decades of global spending. The first phase of this wind-down includes record program spending and tighter controls on operating costs and staffing levels.
Budget details
Foundation's record budget and planned job cuts
The foundation has approved a record $9 billion budget for 2026, its highest annual spending yet. The increased allocation comes as part of an effort to tackle growing challenges in global health, poverty alleviation, and education. Along with the higher program spending, the foundation also plans to cut up to 500 jobs over five years as part of its wind-down strategy.
Continued funding
Foundation's focus areas during transition
Despite the planned closure, the Gates Foundation will continue to fund key initiatives such as maternal and child health, vaccine development, infectious disease prevention, and education programs. The organization is also investing in artificial intelligence tools for public-sector workers in the US. It is expanding its operational footprint in Africa and India with more program leadership and implementation moving closer to regions most affected by diseases like HIV and tuberculosis.