The X Prize Foundation announced it is offering a US$20 million prize to the first team that lands a rover on the Moon, roves more than 500 meters and transmits back to Earth high definition images and video. The goal of the Google Lunar X PRIZE, like that of the previous Ansari X PRIZE, is to motivate private investment in space exploration and technology. 
In addition to the $20 million first prize, there is a $5 million dollar second prize and $5 million in potential bonuses prizes.
The X Prize Foundation is a Santa Monica-based nonprofit institute that hosted the Ansari X PRIZE contest, which led to the first private manned spaceflight in 2004. Google co-founder Larry Page is a trustee of the X Prize Foundation, and has held a charity auction for the institute earlier this year.

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$20 million prize offered in lunar rover contest