The Wolf Prize was established in 1975. R-Wolf initiated the formation of the Wolf Foundation with the aim of "promoting science and art for the benefit of humanity". A total of $10 million was raised from donations by members of the Wolf family to reward individuals who made outstanding contributions to the advancement of human science and art civilization.
The award is evaluated once a year, and is given to individuals who achieved outstanding achievements in art (architecture, music, painting, sculpture), mathematics, physics, chemistry, agriculture, and medicine.
The Wolf Prize is a lifetime achievement award, making it one of the highest accolades in the world.
As the prize is privately funded, it is very fair, and the mathematics and physics awards are the most influential.
