Nobel Prize award raised by nearly 1 million kronor for 2023
Winners of this year’s Nobel Prizes will get an extra 1 million kronor (S$121,968), taking the total financial reward to 11 million kronor, the Nobel Foundation, which administers the awards, said on Friday (Sep 15).
The prize money has been adjusted up and down in recent years, and the award-givers said it was increasing the amount this year to reflect the Foundation’s stronger financial position.
In 2012, prize money was reduced from 10 million kronor to 8 million as the Foundation looked to shore up its finances. The prize amount was increased to 9 million in 2017 and in 2020 to 10 million – where it was prior to 2012.
Over the last decade, however, the kronor has lost around 30 per cent of its value against the euro, meaning the most recent increase in the value of the prize won’t leave winners outside Sweden feeling much richer.
In 2013, the prizes for achievements in science, literature and peace – which were first awarded in 1901 –were worth around US$1.2 million, despite the cut in the Swedish currency sum to 8 million kronor.
The Nobel Prize in Physiology or Medicine is the first of this year’s prizes and will be announced on Oct 2 followed by Physics, Chemistry, Literature and Peace on the following days. REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
IEA trims 2024 oil demand growth forecast, widening gap with Opec view
US dollar slides against major currencies after CPI report
China says 'bullying' tariff hike shows some in US are 'losing their minds'
US retail sales unexpectedly flat in April
US consumer prices rise less than expected in April; core CPI slows
‘‘What doesn’t kill you makes you stronger,’’ China trolls new US tariffs