Why?
Many scientists are quite naive when it comes to managing large sums of money. Delivering the prize in installments protects recipients from scams or losses that could otherwise occur.
Some recipients might initially reject the prize but later change their minds. Spreading payments over time gives the prize committee more opportunity to persuade them to accept it.
It can be stressful and overwhelming for recipients to decide what to do with $1 billion all at once.
The project might mistakenly award the prize to the wrong person; installments allow more time to verify and, if necessary, correct the decision.
Raising $1 billion upfront is extremely difficult. Over 10 years, however, it becomes far more feasible—and the fundraising effort could even extend to 25 years or more if needed.
Fundraising Estimate (Per Year)
– Average donation: $10
– Target donors: 10 million
– Total: $10 × 10M = $100M
There are currently about 7.5 million full-time researchers (scientists) worldwide and roughly 235 million students.
Alec Pan 