Nobel Laureate James Watson made history of sorts last week by being the first living Laureate to sell his Nobel Prize medallion.

Watson's 23 carat gold medallion was sold at auction at Christie's for a record price of US$4.1 million.

The winning bidder was unidentified at the time of the sale. On Wednesday, however, Russia's Sputniknews named the buyer of the medallion. This man again illustrated his deep generosity, living-up to his reputation as a philanthropist.

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Alisher Usmanov, the Russian tycoon who bought Watson's Nobel medallion, will return the medallion to Watson. The surprise move "deeply humbled" the American scientist.

Usmanov, the richest man in Russia, had two reasons for buying the medal and returning it to Watson. First, he found the situation intolerable where a renowned savant had to sell his medal because he needed money.

"James Watson is one of the greatest biologists in the history of mankind and his award for the discovery of DNA structure must belong to him," BBC quoted Usmanov as saying.

But the second and more compelling reason was that the Russian tycoon's father died of cancer, which Watson's discovery helps battle.

"Mr. Usmanov lost his father to cancer. I want him to know that his gift enables me to more effectively spend the rest of my life pursuing a cure for this dreadful disease while empowering others in this vital effort," said Watson.

At the same time, Usmanov's act honors and recognizes the life-saving work of all researchers, he added.

Usmanov's fortune is estimated by Fortune at US$16.1 billion, making the US$4.1 million he spent on the Nobel medallion loose change.

Among the business holdings of the 61-year-old billionaire are steel and mining companies, the Arsenal football club, Russia's biggest business newspaper, Kommersant, and the mobile phone firm, Megafon.

In 2013, Usmanov donated US$112.6 million that year, said The Sunday Times.

Watson decided to sell his medallion because he was financially hard-up. Watson, however, said he didn't plan to use all the money he'd get from the sale for his personal use.

Rather, he would donate some of it to organizations he once worked for, such as the Cold Spring Harbor Laboratory, which would continue to find a cure for cancer.

Tagsjames watson, DNA, nobel prize, alisher usmanov