Nobel Foundation raises prize money for each award to $1.2 million
- Nobel Prize money jumps 9% to 12 million Swedish crowns per category, with winners in six fields to be announced between October 5-12
COPENHAGEN: Sweden’s Nobel Foundation said on Friday it will increase this year’s prize money for its prestigious annual awards by 9% to a total value of 12 million Swedish crowns ($1.22 million) in each of the six categories.
“By increasing the prize amount, we uphold the long-term significance of the Nobel Prize and ensure that the financial part of the prize retains its value over time,” Hanna Stjarne, executive director of the Nobel Foundation, said in a statement.
Winners of this year’s prizes in physics, chemistry, peacemaking, literature, economics and medicine or physiology will be announced between October 5 and October 12, marking the 125th anniversary of the first awards.
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Established in the will of Swedish 19th century businessman Alfred Nobel, the inventor of dynamite, the first awards in 1901 were for 150,782 crowns per category, according to the foundation.
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