The money envelope that accompanies every Nobel prize shall be elevated this yr to $1.1 million.
Stockholm, Sweden:
The money envelope that accompanies every Nobel prize shall be elevated this yr from 9 to 10 million kronor ($1.1 million), the Nobel Basis stated Thursday.
“The work performed in recent times to strengthen the Nobel Basis’s monetary standing has made it doable to extend the prize sum,” the inspiration stated in a press release.
This yr’s prizes within the fields of medication, physics, chemistry, literature, peace and economics shall be introduced through the week of October 5.
The prize sum was decreased from 10 to eight million Swedish kronor in 2011, when the inspiration launched a programme to enhance its funds.
Because the starting of 2012, its funding capital has risen from just below three billion kronor to four.6 billion, whereas the return has been near 9 % per yr because of a typically good market efficiency and good outcomes from the inspiration’s personal asset administration, it stated.
Prize creator Alfred Nobel, an inventor and scholar who made an unlimited fortune from his invention of dynamite in 1866, decreed in his 1895 will that the majority of his property — about 31.5 million Swedish kronor, equal right now to about 2.2 billion kronor ($222 million, 203 million euros) — be invested to fund the prizes.
The Nobel Basis has beforehand introduced that the normal award ceremony and banquet in Stockholm have been cancelled this yr due to the coronavirus pandemic, changed by a televised occasion with laureates receiving their prizes of their dwelling international locations.
The Peace Prize ceremony, which takes place in Oslo, will go forward albeit in a scaled-back model — with the normal banquet cancelled.
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
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