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Source: Nemmers Prize in Mathematics

The Frederic Esser Nemmers Prize in Mathematics is awarded biennially from Northwestern University. It was initially endowed along with a companion prize, the Erwin Plein Nemmers Prize in Economics, as part of a $14 million donation from the Nemmers brothers. They envisioned creating an award that would be as prestigious as the Nobel Prize. To this end, the majority of the income earned from the endowment is returned to the principal to increase the size of the award.
As of 2023, the award carries a $300,000 stipend and the scholar spends several weeks in residence at Northwestern University.