Winners of this year’s Nobel Prizes will receive an additional 1 million crowns, bringing the total financial reward to 11 million Swedish crowns ($986,000), the Nobel Foundation, which administers the prizes, said Friday. The prize money has been adjusted up and down in recent years and the award winners said the amount was increased this year to reflect the Foundation’s stronger financial position.
In 2012, the prize money was reduced from 10 million kroner to 8 million as the Foundation sought to strengthen its finances. The prize amount was increased to 9 million in 2017 and to 10 million in 2020 – where it was before 2012.
However, over the past decade the Swedish krona has lost around 30% of its value against the euro, meaning the most recent rise in the price’s value won’t leave winners outside Sweden feeling much richer.
In 2013, the prizes for achievements in science, literature and peace – first awarded in 1901 – were worth around US$1.2 million, despite the reduction of the Swedish currency amount to 8 million kroner.
The Nobel Prize in Physiology or Medicine is the first prize of this year and will be announced on October 2, followed by Physics, Chemistry, Literature and Peace on the following days.
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