The Wolf Prize was established in 1978 by German-born Ricardo Wolf and his wife Francisca Subirana-Wolf. Dr. Wolf, an inventor, diplomat and philanthropist, lived in Cuba for many years and served as Fidel Castro’s ambassador to Israel from 1961-1973. When Cuba severed ties with Israel in 1973, Dr. Wolf decided to stay in Israel where he spent his final years. The Israel-based Wolf Prize is awarded to outstanding scientists and artists, “for achievement in the interest of mankind and friendly relations among peoples.” The annual prizes of $100,000 are given in four out of five scientific fields in rotation: Agriculture, Chemistry, Mathematics, Medicine and Physics. In the Arts, the prize rotates among Architecture, Music, Painting and Sculpture.
Source: Bard, Mitchell G. and Moshe Schwartz. 1001 Facts Everyone Should Know About Israel. Rowman & Littlefield Publishers, 2005.