This year's Nobel laureate will receive a prize of 11 million Swedish crowns ($986,000), an increase of one million Swedish crowns from last year.
Nobel scholars attend the award ceremony with the Swedish royal family on December 10, 2022. Photo: Reuters
According to the Nobel Foundation, the value of the Nobel Prize in recent years has been adjusted up or down depending on the foundation's financial situation. This year, the foundation decided to increase the value of the prize thanks to its stronger financial situation, according to Reuters .
In 2012, the prize was reduced from 10 million crowns to 8 million crowns, as the Nobel Foundation needed to shore up its finances. It was then increased to 9 million crowns in 2017 and 10 million crowns in 2020, back to pre-2012 levels. However, the Swedish crown has lost about 30% of its value against the euro over the past decade, meaning the recent increase in prize money is not as significant for laureates living in other countries. In 2013, the science, literature and peace prizes were worth the equivalent of $1.2 million, despite the fact that the prize money was only 8 million crowns.
The Nobel Prize in Physiology or Medicine is scheduled to be the first prize announced this year at 4:30 p.m. on October 2. The Nobel Prizes in Physics, Chemistry, Literature, Peace, and Economics will be announced in the following days. Of the Nobel Prizes, the Physics, Chemistry, Literature, and Economics prizes are decided by the Royal Swedish Academy of Sciences; the Physiology or Medicine prize is decided by the Nobel Committee of the Karolinska Institute; and the Peace Prize is decided by the Nobel Committee of the Norwegian Parliament.
The Nobel Prize is an international award established by the Nobel Foundation in Stockholm in 1901 based on the estate of Alfred Nobel, a Swedish inventor and businessman. The prize is awarded annually to individuals and organizations that have made outstanding contributions in the fields of Medicine, Chemistry, Physics, Literature, and Peace. In 1968, the Swedish Central Bank established the Sveriges Riksbank Prize in Economic Sciences in Memory of Nobel, also known as the Nobel Prize in Economics.
Each award consists of a medal, a personal certificate and a prize money. From 1901 to 2022, the prize has been awarded 615 times to 989 individuals and organizations around the world.
An Khang (According to Reuters )
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