Paul Allen

Billionaire Paul Allen has taken his friend Bill Gates up on his challenge to publicly pledge the majority of his wealth to philanthropy.

Allen, who is 57, said today that he plans to leave the majority of his $13 billion estate to philanthropy to continue the work of his foundation and to fund scientific research. It was also a way of marking the 20th anniversary of the Paul G. Allen Family Foundation, which he started in 1990 with his sister, Jo Lynn Allen, and has since given 3,000 grants totaling about $400 million.

WASHINGTON, DC, April 14, 2009 — The X PRIZE Foundation, a nonprofit organization that drives innovation through large incentive competitions, in collaboration with the WellPoint Foundation, one of the nation's largest private foundations, and WellPoint, Inc. (NYSE: WLP), the nation's largest health benefits company in terms of medical membership, announced today the initial competition design for a $10M+ Healthcare X PRIZE.

The X PRIZE Foundation, an educational nonprofit prize institute dedicated to fostering radical breakthroughs for the benefit of humanity, today announced the appointment of Patrick Soon-Shiong, M.D., as Chairman of its Life Sciences Prize Group Steering Committee (GSC). Under Dr. Soon-Shiong's direction, the GSC will steer the direction of future Life Science related X PRIZEs to ensure that they address the audacious grand challenges where market failures currently exist. The Life Sciences GSC will address such subjects as healthcare, genomics, proteonomics, bionics/human augmentation, rapid disease detection, disease prevention, human longevity and artificial intelligence in medical diagnosis.