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Article: All shall have prizes; Philanthropy.(The X PRIZE Foundation)

Article from:
The Economist (US)
Article date:
March 3, 2007
Copyright

Will a boom in philanthropic prize-giving change the world?

TYCOONS gathering this weekend at Google's Silicon Valley headquarters will be giving money away, not trying to make more. Larry Page, one of the search firm's founders and, with a personal fortune estimated at over $14 billion, one of the world's richest 33-year-olds, is holding a fundraiser for one of his favourite charitable causes, the X Prize Foundation. The foundation is a force behind one of the most intriguing trends in philanthropy: promoting change by offering prizes.

It has worked before. The chronometer was invented to win an 18th-century British government prize. Charles Lindbergh flew the ...

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