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How Much Prize Money Do Nobel Prize Winners Actually Get?
The 2024 Nobel Prizes are being awarded one by one, honoring remarkable achievements across various fields like medicine, physics, chemistry, peace, and literature. As one of the world’s most prestigious awards, the Nobel Prize is highly coveted. But have you ever wondered how much money a Nobel Prize winner actually receives? Let’s dive into the details!
The Nobel Prizes have once again begun to find their recipients this year.
Since 1901, the Nobel Prize has been awarded in the fields of medicine, physics, chemistry, peace, and literature, and is given by the Nobel Foundation. The founder of the Nobel Foundation is Alfred Nobel.
Before his death in 1896, Alfred Nobel had requested that the Nobel Prizes be awarded and stated that they should be given to those who "serve humanity."
The Nobel Foundation, established by Alfred Nobel, began awarding this prestigious prize following the will, which was announced on December 30, 1896, in Stockholm.
The first Nobel Prize was awarded in 1901.
At that time, the prize amount for each category was 150,782 kronor. The winners of the 1901 Nobel Prizes were as follows:
First Nobel Physics Prize: Wilhelm Conrad Röntgen (Germany)
First Nobel Chemistry Prize: Jacobus H. Van’t Hoff (Germany-Netherlands)
First Nobel Prize in Physiology or Medicine: Emil von Behring (German Empire)
First Nobel Literature Prize: Sully Prudhomme (France)
First Nobel Peace Prize: Jean Henry Dunant (Switzerland), Frédéric Passy (France)
The amount of the Nobel Prize has been adjusted several times in recent years by the Foundation, partly due to the devaluation of the Swedish currency.
In 2012, the Nobel Foundation introduced measures to strengthen its finances, reducing the prize from 10 million kronor to 8 million kronor. In 2017, the prize amount was increased from 8 million kronor to 9 million, and in 2020, it was raised to 10 million kronor.
The amount of the Nobel Prize for 2024 is 11 million kronor, which is approximately 986,000 USD.
Of course, the prestige of the Nobel Prize is far more significant than the amount you receive!
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