A new physics prize created by Russian billionaire who started a PhD in physics before switching to an MBA and getting rich (investing in Facebook, Twitter, Zynga and Groupon) has announced the first 9 winners. The award includes awards worth $3 million; the Nobel prize paid $1.1 million last year.

Yuri Milner awards make nine fundamental physics pioneers rich

The nine will now form a committee to select a winner, or winners, for next year. The prize will be given in the first quarter of each year

According to Milner, the new prizes are not intended to compete with the Nobels, and differ in crucial ways. They can go to younger researchers because experimental verification of theoretical breakthroughs is not required. And, unlike a Nobel prize, which can be shared by three scientists at most, the Milner prize imposes no limit.

Alongside the main prize, Milner’s foundation will give two further awards, the first being an annual New Horizons in Physics prize for promising junior researchers, and a special ad-hoc fundamental physics prize that can be awarded at any time, forgoing the usual nomination process. Milner said the latter prize might, for example, recognise experimental results that are clearly and immediately groundbreaking.

Milner, 50, left Moscow State University in 1985 with an advanced degree in theoretical physics. He later abandoned a PhD at the Russian Academy of Sciences for an MBA at the Wharton School of Business at the University of Pennsylvania.

Nima Arkani-Hamed, Institute for Advanced Study, Princeton. For original approaches to outstanding problems in particle physics, including the proposal of large extra dimensions, new theories for the Higgs boson, novel realisations of supersymmetry, theories for dark matter, and the exploration of new mathematical structures in gauge theory scattering amplitudes.

Ashoke Sen, Harish-Chandra Research Institute, Allahabad. For uncovering striking evidence of strong-weak duality in certain supersymmetric string theories and gauge theories, opening the path to the realisation that all string theories are different limits of the same underlying theory.

7 of the 9 winners are currently working in the USA (1 in India and 1 in France). 4 are at Princeton and 1 each at MIT, Cal Tech and Stanford.