Nobel Foundation Increases Each Prize to $1.2 Million in 2023 Awards
Nobel Prize 2023: Increased Prize Money and Historical Context
Prize Money Increase Announced
COPENHAGEN, Sept 18 (Reuters) - 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.
Foundation's Statement on the Increase
"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.
2023 Nobel Prize Categories and Announcement Dates
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.
Historical Background of the Nobel Prize
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.
Currency Exchange Rate
($1 = 9.8219 Swedish crowns)
Reporting Credits
(Reporting by Louise Rasmussen, editing by Terje Solsvik)
