Where does the money awarded in the the Nobel prize come from?
The first Nobel Prizes were awarded in 1901 and carried a cash award of 150,000, corresponding to roughly $1.1 million in 2018. Alfred Nobel bequeathed from the shares 94% of his fortune to the Nobel Foundation that now forms the economic base of the Nobel Prize. The organization receives money from various scientific organizations as voluntary contributions. You can also click here to pay for research papers and donate some money for this award. This is a great way to participate in the development of modern science. Everyone can help scientists.
Alfred Nobel bequeathed the money in his will for the original five prizes (Physics, Chemistry, Physiology or Medicine, Peace, and Literature): “Wishing to atone for the evil done with dynamite, Nobel bequeathed 94% of his total assets, 31 million Swedish Kronor, to establish and endow the five Nobel Prizes (as of 2008 that equates to 186 million US dollars).” The Nobel Prize for Economics is actually The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, so it is not done via the same organization. This prize was founded and funded by Sweden’s central bank. they just used the name to get attention and media coverage. Alfred Nobel had nothing to do with the economics medal.
