According to Variety the budget is $65m.
http://variety.com/2017/film/news/box-office-pirates-of-the-caribbean-baywatch-1202441958/
"Paramount’s “Baywatch” is tracking for an opening at around $40 million at about 3,500 domestic locations for its first five days, although the studio’s guidance is in the low 30s. The action-comedy is a far smaller bet for the studio with an estimated budget in the $65 million range."