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Wellcome Trust

Annual Report and Financial Statements 2024/25

Wellcome is one of the world's largest independent health research funders, supporting science to solve urgent global health challenges. In 2024/25 the Trust's charitable expenditure rose to £1.916 billion — its third year of a ten-year plan to spend £16 billion by 2032. Funding spanned discovery research (£841m), infectious disease (£228m), mental health (£138m) and climate and health (£145m). The investment portfolio delivered a 10.2% total return, growing to £39.9 billion.

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£841 million awarded to discovery research; £228 million to infectious disease

Key Metrics

Key Metric 1 £1.916 billion in charitable expenditure in 2024/25, up from £1.6 billion the prior year
Key Metric 2 2,723 active grants across 1,443 organisations in 133 countries, with a total value of £7.3 billion
Key Metric 3 Investment portfolio delivered 10.2% total return, growing to £39.9 billion

Key Outcomes

  • £5.2 billion in charitable spending since 2022, towards a £16 billion ten-year target
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Geography

International

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