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Benzinga
  • 3 hours ago
The Gates Foundation plans to cut up to 500 jobs, ~20% of its workforce, over several years as part of a restructuring tied to its $9B 2026 budget and a $1.25B operating expense cap. The foundation also launched an external review of its ties to Jeffrey Epstein and its partnership vetting policies. Bill Gates apologized earlier this year over his Epstein association and is set to testify before Congress in June.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Gates Foundation plans to cut up to 500 jobs, or about 20% of its workforce, over several years
00:09as part of a restructuring tied to its $9 billion 2026 budget and a $1.25 billion operating expense
00:16cap. According to the Wall Street Journal, the organization will reduce staff by 200 from 2375
00:22by the end of 2027 and cut travel and other costs. The foundation also launched an external review
00:29of its ties to Jeffrey Epstein and its partnership vetting policies, with an update expected this
00:34summer. The moves follow disclosures about Bill Gates' association with Epstein. Gates apologized
00:40earlier this year and is set to testify before Congress in June.
00:43For all things money, visit Benzinga.com.
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