and scholar Alfred Nobel can be seen on a banner on display at the
Nobel Forum in Stockholm, Sweden, prior to a press conference to
announce the winner of the 2018 Nobel Prize in Physiology or
Medicine at the Karolinska Institute in Stockholm, Sweden, on
October 1, 2018.Jonathan NACKSTRAND / AFP
The cash envelope that accompanies each Nobel prize
will be increased this year from nine to 10 million kronor ($1.1
million), the Nobel Foundation said Thursday.
“The work done in recent years to strengthen the Nobel
Foundation’s financial standing has made it possible to increase
the prize sum,” the foundation said in a statement.
This year’s prizes in the fields of medicine, physics,
chemistry, literature, peace and economics will be announced during
the week of October 5.
The prize sum was reduced from 10 to eight million Swedish
kronor in 2011, when the foundation launched a programme to improve
its finances.
Since the beginning of 2012, its investment capital has risen
from just under three billion kronor to 4.6 billion, while the
return has been close to nine percent per year thanks to a
generally good market performance and good results from the
foundation’s own asset management, it said.
(adsbygoogle = window.adsbygoogle || []).push({});
Prize creator Alfred Nobel, an inventor and scholar who made a
vast fortune from his invention of dynamite in 1866, decreed in his
1895 will that the bulk of his estate — about 31.5 million Swedish
kronor, equivalent today to about 2.2 billion kronor ($222 million,
203 million euros) — be invested to fund the prizes.
The Nobel Foundation has previously announced that the
traditional award ceremony and banquet in Stockholm have been
cancelled this year because of the coronavirus pandemic, replaced
by a televised event with laureates receiving their prizes in their
home countries.
The Peace Prize ceremony, which takes place in Oslo, will go
ahead albeit in a scaled-back version — with the traditional
banquet cancelled.
AFP
Read more https://swordpress.com.ng/2020/09/24/nobel-prize-cash-raised-to-1-1mn/