The Nobel Prize consists of a gold medal, a diploma and a cash prize, which is distributed among the winners of one category.
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“The work done in recent years to strengthen the Nobel Foundation’s financial position has led to an increase in the amount of the award,” the foundation said.
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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.
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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.
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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.
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The Nobel Memorial Prize in Economics was established by the Swedish Central Bank and has been awarded since 1969.
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The winners of the Nobel Prizes are announced in October, but the prizes are traditionally presented in Stockholm and Oslo on December 10, the anniversary of the founder’s death.
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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.
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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.
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