Nobel Foundation raises prize money for each award to $1.2 million
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…
The Nobel Foundation has announced a significant increase in the prize money for its prestigious annual awards. Effective immediately, each of the six categories will receive a total value of 12 million Swedish crowns, a 9% increase from the previous year. Hanna Stjarne, the foundation's executive director, stated that this adjustment is intended to maintain the long-term significance of the Nobel Prize and ensure the financial value of the prize remains consistent over time.
The winners of this year's prizes in physics, chemistry, peace, literature, economics, and medicine or physiology are expected to be announced between October 5 and October 12, marking the 125th anniversary of the first awards. The Nobel Prize, established by the will of Swedish businessman Alfred Nobel, the inventor of dynamite, initially awarded 150,782 crowns per category in 1901.
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Also reported by 1 other outlet
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