Gates Foundation to cut 500 jobs despite record $9 billion budget

The Gates Foundation announced a record $9 billion budget for 2026, but will cap operating expenditures at about $1.25 billion (14% of its budget). To meet this cap, it plans to cut up to 500 of its roughly 2,375 jobs by 2030, including leaving some positions unfilled. The foundation would be closed in 2045, as announced by Bill Gates earlier.