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Nobel Prize Winners to Receive $1 Million this Year

Nobel Prize winners will get 11M Swedish crowns ($986,000), up 1 M.

In previous years, there have been ups and downs in the prize money. The Nobel Foundation, which oversees the awards, announced that it was raising the sum this year to reflect the Foundation’s improved financial situation.

As the Foundation attempted to stabilize its finances, the prize money was decreased from 10 million crowns to 8 million in 2012. In 2017, the prize sum was raised to $9 million, and in 2020 it will rise to $10 million, returning it to what it was in 2012.

The Swedish crown, however, has lost around 30% of its value versus the euro over the past ten years, so the most recent boost in the prize’s value won’t make victors outside of Sweden feel all that wealthy.

In 2013, the Nobel Prizes, initially established in 1901, were valued at approximately $1.2 million, even though there had been a reduction in the sum awarded in Swedish crowns, which was set at 8 million.

This year, the Nobel Prize in Physiology or Medicine will be the first to be announced on October 2, followed by the announcements for Physics, Chemistry, Literature, and Peace in the subsequent days.

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