Samuel Yin, a rich Taiwanese men has launched the Asian equivalent of the Nobel Prize, which is even more lucrative than the Swedish prize.
Samuel Yin, heading the Ruentex business empire, has donated USD $ 101 for the Tang Prize and fulfilled his biggest dream. He hopes to encourage more research beneficial to mankind and promote Chinese culture and make the world a better place.
Staring in 2014, four prizes will be awarded every two years in four categories -- sustainable development, biopharmaceutical science, sinology and the "rule of law" -- regardless of nationality. Each winner will receive USD $ 1.7 million, compared to the USD $1.2 million. The Nobel Prizes are awarded for exceptional work in physics, chemistry, physiology or medicine, literature and peace.