Xprize Article

Ric and Jean Edelman Offer $25 Million Donation to Fund an XPRIZE Competition Seeking Innovative Approaches to Detecting and Ultimately Curing Alzheimer’s Disease

Ric and Jean Edelman, founders of Edelman Financial Services, have offered a $25 million donation to the XPRIZE Foundation to support the development of innovative approaches leading to a cure of Alzheimer’s disease.

The Edelmans’ proposed donation would provide vital funding for a multimillion-dollar prize, plus additional funds for infrastructure and operational support to teams competing for the prize. Their announcement was made at last week's 2017 XPRIZE Visioneers Summit, held in Southern California.

The proposal to target Alzheimer’s disease was one of five considered by a group of 250 prominent corporate and government leaders, including many of the world’s top innovators, respected philanthropists and leading entrepreneurs. The other proposals pertained to clean air, zero-waste mining, cybersecurity and fostering democracy. The Alzheimer’s team received the highest score.

The XPRIZE Foundation, a nonprofit organization, is a global leader in incentivized prize competitions. XPRIZE uses a unique combination of gamification, crowdsourcing and other exponential technologies to make 10x (vs. 10%) impact on the grand challenges facing humanity.

“Jean and I are honored to offer this vital funding to encourage innovative approaches to defeat Alzheimer’s,” said Ric Edelman. “We have seen firsthand the devastating impact of this dreadful disease on so many of our firm's clients, and we are thrilled at the opportunity to support the XPRIZE Foundation and the Alzheimer’s Disease Team so we can start working on new ways to detect, diagnose and ultimately eradicate Alzheimer's disease.”

According to the Alzheimer’s Association, Alzheimer’s disease affects 5.5 million Americans — a figure that is expected to triple in coming decades. Currently, Alzheimer’s disease is incurable and 100% fatal, and 15 million Americans — usually family members — provide unpaid care to assist those with the disease.

The Edelmans have been involved in the fight against Alzheimer’s for the past five years, working with the Alzheimer’s Disease Team to secure XPRIZE status. The Alzheimer’s Disease Team believes crowdsourcing, big data, artificial intelligence and other exponential technologies will lead to breakthroughs that achieve their goals of early detection and diagnosis of the disease, ultimately leading to a cure.

“We have seen so many of our clients’ lives devastated by the physical, emotional and financial impact of Alzheimer’s,” Jean Edelman said. “Now it’s time for all of us to work together and crack the code on Alzheimer’s, so every retiree — today and in the future — can enjoy true health and happiness, free of this terrible disease.”

For more information about the Alzheimer’s Disease Team XPRIZE proposal, visit the XPRIZE website.

Ric Edelman, Executive Chairman of Edelman Financial Services, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through EFS and is a Registered Representative and Registered Principal of, and offers securities through, EF Legacy Securities, LLC, an affiliated broker/dealer, member FINRA/SIPC.