A New Model for Philanthropy

Peter Diamandis, X PRIZE Foundation

Traditional philanthropy invests in a limited circle of people, whereas the X PRIZE, says its founder Peter Diamandis, funds a broader landscape of people and ideas that succeed. Diamandis is encouraging large foundations like the Carnegies and the Fords to consider adding cash incentive prizes into their portfolio of philanthropy, as he believes the rewards from this new form of public enrichment and exploration are much richer.