The Hugo Boss Prize was an award given every other year to an artist working in any medium, anywhere in the world. Upon its establishment in 1996, it distinguished itself from other art awards because it has no restrictions on nationality or age. The prize was administered by the Solomon R. Guggenheim Foundation and sponsored by the Hugo Boss clothing company, which since 1995 has been sponsoring various exhibitions and activities at the Solomon R. Guggenheim Museum. It included a cash award of US$100,000 and a tetrahedral trophy.