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Each prize is worth over a million dollars for those who ‘have conferred the greatest benefit to mankind’
Each year the Royal Swedish Academy of Sciences, the Nobel Assembly at Karolinska Institutet, the Swedish Academy, and the Norwegian Nobel committee give a series of prizes established in the will of Swedish inventor Alfred Nobel.
Worth 8m kronor (690,000) each, the Nobel prizes are always handed out on 10 December, the anniversary of Nobel’s death in 1896. As well as the prize money, each laureate receives a diploma and a gold medal.
The physics, chemistry, physiology/medicine, literature and peace prizes were first awarded in 1901, while the economics prize was created in 1968.
Nobel, a wealthy Swedish industrialist who invented dynamite, provided few directions for how to select winners, except that the prize committees should reward those who “have conferred the greatest benefit to mankind”.
The Nobel Prize Amounts
On 27 November 1895, a year before his death, Alfred Nobel signed the famous will which would implement some of the goals to which he had devoted so much of his life. Nobel stipulated in his will that most of his estate, more than SEK 31 million (today approximately SEK 1,702 million) should be converted into a fund and invested in "safe securities."
The income from the investments was to be "distributed annually in the form of prizes to those who during the preceding year have conferred the greatest benefit on mankind."
The table below shows the Nobel Prize amount in Swedish kronor (SEK) through the years, the monetary value per December 2013 in Swedish kronor (SEK) and the value in % compared to the original amount in 1901.
The Nobel Prize amount for 2014 is set at Swedish kronor (SEK) 8.0 million per full Nobel Prize.
http://www.theguardian.com/world/2014/oct/13/nobel-prizes-2014-the-winners
Each year the Royal Swedish Academy of Sciences, the Nobel Assembly at Karolinska Institutet, the Swedish Academy, and the Norwegian Nobel committee give a series of prizes established in the will of Swedish inventor Alfred Nobel.
Worth 8m kronor (690,000) each, the Nobel prizes are always handed out on 10 December, the anniversary of Nobel’s death in 1896. As well as the prize money, each laureate receives a diploma and a gold medal.
The physics, chemistry, physiology/medicine, literature and peace prizes were first awarded in 1901, while the economics prize was created in 1968.
Nobel, a wealthy Swedish industrialist who invented dynamite, provided few directions for how to select winners, except that the prize committees should reward those who “have conferred the greatest benefit to mankind”.
The Nobel Prize Amounts
On 27 November 1895, a year before his death, Alfred Nobel signed the famous will which would implement some of the goals to which he had devoted so much of his life. Nobel stipulated in his will that most of his estate, more than SEK 31 million (today approximately SEK 1,702 million) should be converted into a fund and invested in "safe securities."
The income from the investments was to be "distributed annually in the form of prizes to those who during the preceding year have conferred the greatest benefit on mankind."
The table below shows the Nobel Prize amount in Swedish kronor (SEK) through the years, the monetary value per December 2013 in Swedish kronor (SEK) and the value in % compared to the original amount in 1901.
The Nobel Prize amount for 2014 is set at Swedish kronor (SEK) 8.0 million per full Nobel Prize.
http://www.theguardian.com/world/2014/oct/13/nobel-prizes-2014-the-winners
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