An X Prize competitors concentrating on growing older has been within the works for years, fueled by discussions between Diamandis, longevity investor Sergey Younger, eccentric futurist and researcher Aubrey de Gray, and Michael Antonov, a long life fanatic and cofounder of the Fb-owned virtual-reality firm Oculus. Younger and Antonov offered seed funding to check the feasibility of the prize.

Diamandis introduced the $101 million prize in the present day on the International Healthspan Summit in Riyadh, Saudi Arabia, an occasion hosted by Hevolution, a nonprofit group launched by the Saudi royal household in 2021 that plans to spend a billion {dollars} a yr on growing older analysis. Hevolution is offering the most important chunk of the X Prize purse, $40 million. The opposite main funder is Lululemon founder Chip Wilson, who contributed $26 million to the prize. He additionally kicked in a further $10 million for any group creating a remedy that may present a 10-year enchancment in muscle operate for people with facioscapulohumeral muscular dystrophy, a muscle dysfunction that impacts Wilson and about 30,000 different folks worldwide.

The purse will probably be doled out in three chunks. Two years in, as many as 40 groups will obtain $250,000 “to anoint them as one of many prime groups,” Diamandis says. How these groups will probably be chosen isn’t but clear. However “it’s extra subjective than goal,” he provides. Three or 4 years in, the highest 10 groups will obtain one million every. That leaves $81 million for the winners, which will probably be introduced in 2030.

Any group that demonstrates a 20-year enchancment will obtain the total prize. A 15-year enchancment will earn $71 million. The prize for a 10-year enchancment is $61 million.

Gordon Lithgow, a researcher who research the biology of growing older on the Buck Institute, calls the announcement “implausible.” He hopes the prize would possibly deal with a number of the worst bottlenecks within the area: creating and testing new interventions, measuring growing older, and shifting analysis into people. “This area wants an enormous inflow of assets,” he says. Lithgow would possibly even put his hat within the ring.