What is Nobel Prize?

Nobel Prize

What is Nobel Prize?
What is Nobel Prize?
Nobel Prize is a prestigious prize awarded separately in six different fields “to those who, during the preceding year, have conferred the greatest benefit to humankind”. Originally, the prize was awarded in the fields of Physics, Chemistry, Physiology or Medicine, Literature, and Peace. The Peace Prize was characterised as “to the person who has done the most or best to advance fellowship among nations, the abolition or reduction of standing armies, and the establishment and promotion of peace congresses". Later in 1968, a sixth prize was added in the field of economic sciences. The Prize is officially not a Nobel Prize but it is called as "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". It was established by Sveriges Riksbank (Sweden’s central bank).

How and when the Nobel Prize was established?

Alfred Nobel, a Swedish scientist, signed his last will and testament on 27 November, 1895, giving most of his fortune to prizes in Physics, Chemistry, Physiology or Medicine, Literature and Peace.
 
Nobel was a Swedish chemist, engineer, and industrialist who is most famous for inventing dynamite. He was born in Stockholm, Sweden, on 21 October 1833. He was fluent in many languages and had interests in poetry and drama. It is said that he was very interested in peace-related issues and held views, which were considered radical during his time. He died in 1896. In his will, he gave most of his assets for the establishment of five prizes, which later became Nobel Prizes.
 
The first Nobel Prize was given on 10 December, 1901.
 

Nobel Prize award money

The award winners are also given a sum of money. The award money has increased over the years and currently stands at $1.1 million per prize.
 

 Nobel Prize facts

The prizes have been awarded 603 times, including the Prize in Economic Sciences till February 2021. A total of 962 individuals and 28 organisations have received the award. Some have received the award more than once, which makes it 930 individuals and 25 unique organisations.
 

Nobel Prize to women

A total of 57 women have been honoured with the award since 1901. The first was Marie Curie and she won the award twice, the only woman to have won it more than once.
 

The Nobel Prize insignias

At the ceremony for the Nobel Prize, the Nobel Laureates receive three things - a Nobel diploma, a Nobel Medal and a document confirming the Nobel Prize amount. The medals and the diplomas are created by famous Swedish and Norwegian artists.

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