Christopher J. Welles Memorial Prize

Honoring outstanding work by a Knight-Bagehot alum

The Welles Prize was launched in memory of former Knight-Bagehot Fellowship Director Christopher J. Welles. A leading business writer and editor for 40 years, Welles was known for his penetrating accounts of corporate abuse and misbehavior. The Welles Prize is awarded annually for an exceptional business story or series by a former Knight-Bagehot fellow.

The recipient of the Welles Prize receives $500.

Submissions for the 2025 WERT Global Prize are now open. 

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Entry Guidelines

  • The Welles Prize is open to alumni of the Knight-Bagehot Fellowship.
  • The work should reflect the rigor and sophistication expected of Knight-Bagehot alums.
  • Work must have been published between January 1, 2024 and June 30, 2025.
  • Self-nominations are welcome.
  • Stories with shared bylines may be submitted if the Knight-Bagehot alum played a leading role (please explain in the cover note). Only alumni will receive the award.
  • If submitting a book for consideration, three copies must be provided. 
  • Nominations for a multi-year body of work are accepted if supported by work from the entry period.
  • There is no entry fee.

To begin, please visit our submission site and create an account (takes less than a minute). 

Note: If you are nominating someone other than yourself, we do not expect an extensive recommendation. Most importantly, tell us in your own words why this person is deserving of the Welles Prize in 2025. If you have links to the work, please include them.

Deadline: Tuesday, July 15, 2025, 11:59 p.m. Eastern

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2024 Winner

Douglas MacMillan

Douglas MacMillan

MacMillan, Bagehot class of 2017, was awarded the Welles Prize for his work on Memory Inc., a series of stories in The Washington Post investigating how elderly people with memory problems had wandered away from the assisted living facilities that were paid to keep them safe. At least 100 of these people died.

MacMillan examined the unregulated $34 billion assisted living industry and uncovered how the drive for profits led to inadequate staffing levels and deadly lapses at some facilities. He interviewed more than 50 current and former assisted living employees and analyzed corporate documents and data to show how the drive for profits led to inadequate staffing levels and deadly lapses at some facilities.

Shortly after publication of the first stories, the Senate Special Committee on Aging held a hearing demanding answers from the largest assisted-living chains. The judges cited the series as investigating reporting at its best.

Past Winners

2023

Jon Hilsenrath, Class of 1996, for his biography, "Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval."

John Tozzi, Class of 2017, for his series of stories in Bloomberg News exposing how New Jersey’s health insurer overpaid claims by millions of dollars and yet continued to do business with the insurer.

Questions?

Contact Amy Singer, deputy director, Knight-Bagehot Fellowship.