How many millions has the Nobel Prize been increased?

Photo – LETA / AFP

The Nobel Prize in all categories has been increased from nine to ten million kroons (945,242 euros), the Nobel Foundation announced on Thursday.

The Nobel Prize consists of a gold medal, a diploma and a cash prize, which is distributed among the winners of one category.

“The work done in recent years to strengthen the Nobel Foundation’s financial position has increased the amount of the award,” the foundation said.

In 2011, when the fund started a program to improve its financial position, the amount of the premium was reduced from ten million to eight million kroons.

Since the beginning of 2012, the fund’s investment capital has increased from less than three billion kroons to 4.6 billion kroons, but the profit has reached almost 9% per year, the fund revealed.

The founder of the Nobel Prize, Alfred Nobel, who earned great wealth by inventing dynamite, passed away in 1896. In his will, he spent most of his property – SEK 31.5 million, now worth the equivalent of SEK 2.2 billion – to fund prizes for outstanding achievements in physics, chemistry, medicine, literature and peace-building.

The Nobel Memorial Prize in Economics was established by the Swedish Central Bank and has been awarded since 1969.

Nobel laureates are announced in October, but the awards are traditionally presented in Stockholm and Oslo on December 10, the anniversary of the founder’s death.

However, due to the pandemic, the traditional ceremony and banquet for Nobel Prize winners in medicine, physics, chemistry, literature and economics in Stockholm has been canceled. Instead, a television event is planned and the winners will receive prizes in their countries.

The Nobel Peace Prize ceremony in Oslo has not been canceled, but the event will not be as ambitious as usual. The traditional banquet has been canceled.