Bishop Budge was born in Pittsburg, California, on December 29, 1959. He married Lori Capener in 1981. They are the parents of six children.
He received a Bachelor of Arts degree in economics from Brigham Young University in 1984.
He has served in several Church callings, including full-time missionary in the Japan Fukuoka Mission, stake Young Men president, elders quorum president, stake executive secretary, counselor in a bishopric, bishop, stake president, president of the Japan Tokyo Mission, Area Seventy, and member of the Fifth Quorum of the Seventy in the Utah Salt Lake City Area.
At the time of his call, he was serving as First Counselor in the Asia North Area Presidency. He was sustained as a General Authority Seventy of The Church of Jesus Christ of Latter-day Saints on April 6, 2019.
Bishop Budge worked for Bain & Company Japan, Citibank N.A., and GE Capital in both Atlanta and Japan. In 2003 he became president and chief executive officer of Tokyo Star Bank Limited. From 2008 to 2011 he served as chairman of the board. He retired from the bank in 2011. During this time, he also served as a member of the board of directors for Hawaiian Airlines.