Mohammed bin Rashid Al Maktoum the Arts (AED 2–5 million), Supporters of the Arts (AED 500,000), and Friends of the Arts (AED 50,000–500,000). The award aims to grant financial or in kind support to the visual and performing arts, literature, and film sectors, which contribute to enriching the artistic and cultural scene in Dubai. The Mohammed Bin Rashid Al Maktoum Foundation's $1 million Mohammed bin Rashid Al Maktoum Knowledge Award was inaugurated on 7 December 2014, the first award being made jointly to the computer scientist and inventor of the World Wide Web, Sir Tim Berners-Lee and entrepreneur and co-founder of Wikipedia, Jimmy Wales "In
Jimmy Wales projects. Inspired by the remarkably successful initial public offering of Netscape in 1995, and having accumulated capital through "speculating on interest-rate and foreign-currency fluctuations", Wales decided to leave the realm of financial trading and became an Internet entrepreneur. In 1996, he and two partners founded Bomis, a web portal featuring user-generated webrings and, for a time, erotic photographs. Wales described it as a "guy-oriented search engine" with a market similar to that of "Maxim" magazine; the Bomis venture did not ultimately turn out to be successful. Though Bomis had at the time struggled to make money, it provided Wales with