The Gruber Foundation is pleased to present the 2020 Cosmology Prize to Lars Hernquist and Volker Springel for their transformative work on structure formation in the universe, and development of numerical algorithms and community codes further used by many other researchers to significantly advance the field. The contributions of Hernquist and Springel have led to profound insights spanning billions of years of cosmic evolution, including simulations of the growth of early density fluctuations through to present-day galaxies, the influence of galaxy mergers on star formation, and the close coevolution of supermassive black holes with their host galaxies.