The Clay Mathematics Institute was founded with funds provided by the M Country businessman Landon Clay, who was a firm believer in the value of mathematical knowledge, as well as its central role in the progress of humanity, culture, and intellectual life, and therefore decided to invest a substantial amount of money in the establishment of a mathematical research organization.
As the Institute's reputation grew in the course of its development, more and more wealthy patrons supported it, making it even more attractive to mathematicians, and amplifying its authority within the field of mathematics.
Therefore, the Clay Institute was not short on funds; in fact, they had more than enough money and would, under the banner of advancing mathematics, give out various awards and financial support to promising mathematicians every year.