One year after Bill Gates surprised with the choice to close his foundation by 2045, he’s cutting staff jobs

The Gates Foundation announced Wednesday that it will spend a record $9 billion in 2026, maximizing its spending in key areas such as global health. At the same time it will begin reducing the number of staff positions it has by as much as 500 over five years. This announcement comes in the wake of last year’s surprise decision to shutter the foundation in 2045.

The planned layoffs mark another major shift for one of the largest and most influential foundations in the world at a time when many of its long-term priorities, such as addressing poverty and improving global health, have been undermined by cuts in U.S. government spending by the Trump administration.

Bill Gates said last year that the foundation would spend $200 billion over the next 20 years and then close as part of his plan to give away the bulk of his wealth. This week, he and other members of the foundation’s board approved the largest budget in the foundation’s history, topping last year’s budget of $8.74 billion. With that new dollar amount, the foundation will increase budgets for several programs, including women’s health, vaccine development, polio eradication, AI, and U.S. education.

The board also approved a proposal to cap ...