László Szombatfalvy, the Hungarian-born Swedish billionaire is considered to be one of Sweden's most successful investors of all time. The man who came empty-handed to Sweden following the Soviet occupation of his homeland back in 1956. hasn't had such an easy road to the place where he is now, but after working various jobs for years, at one point he got interested in the stock market. Quickly he invented a system for calculating stock risk, for which he became famous on the Swedish stock market. He has one of the world's best investing track records with an average annual return of 30 per cent.
Among many projects and donations he's made through his Global Challenges Foundation, he's now started a project called "A New Shape" and is offering a reward of $5m USD for anyone who invents a "UN 2.0".
I think there is great logic behind this project and I find it brilliant. The reasons and goals behind it are stated in a short one-minute video which, among other things, states the following: "The shape of the system will always determine the outcome it will achieve. The shape of our global governance and system was decided after the second world war when the world was very different? Is it the right shape to tackle climate change, and extreme poverty and global conflict. The way how world works together will determine how we tackle these problems."
Global Challenges Foundation website explains this further: "Entrants should focus on designing a decision-making structure or framework that could galvanize effective international action to tackle these risks.The proposed model may encompass an entirely new global framework or a proposed reform for existing systems."
Long story short: Mr Szomatfalvy fund’s Global Challenges Prize is awarding $5m USD in prizes for the best ideas that re-envision global governance for the 21st century.
So if you think you've got what it takes and have the vision on how to change the face of world's global governance and the world itself, go straight to Global Challenges Foundation, inform yourself further, submit your idea and snatch a chunk of those $5mil USD.