The benefits of precision medicine in terms of superior health and healthcare outcomes are increasingly clear, but there are challenges to the equitable and widespread dissemination of precision medicine tools, technologies, and solutions. The World Economic Forum convened more than 40 leaders from the public and private sectors, civil society, and academia in a Global Precision Medicine Council (the Council) in 2019 to help shape the governance of precision medicine in the public interest. The Global Precision Medicine Vision Statement provides the Council’s synthesis of the key policy and governance gaps on issues such as data, ethics, regulation, access, and patient engagement, along with a vision for the solutions to overcome them. The Vision Statement should serve as a reference for the greater healthcare community with an interest in helping deliver these benefits on a global basis.