The Wolf Foundation began its activities in 1976, with an initial endowment fund of $10 million donated by the Wolf family. The Foundation's founders and major donors were Dr. Ricardo Subirana y Lobo Wolf and his wife Francisca. Annual income from investments is used for prizes, scholarships and Foundation operating expenses. 
The Foundation has a status of a private not-for-profit organization. Its objectives and prize administration details and procedures are grounded in the "Wolf Foundation Law-1975". Israel's State Comptroller oversees all Foundation's activities. In accordance with the above-mentioned Law, the Minister of Education and Culture acts as Chairman of the Council.

The Wolf Foundation grieves upon the passing of

Prof. Jacob D. Bekenstein

Wolf Prize Laureate in Physics, 2012

and sends condolences to the family

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