The Nobel Foundation will increase the cash prize for laureates by 9% this year, bringing the amount to 12 million Swedish kronor (about $1.22 million) in each of the six categories.
“Operative Information Center-OMM” reports, citing Reuters, that Nobel Foundation Executive Director Hanna Stjärne announced the decision.
“By increasing the prize amount, we support the Nobel Prize’s long-term significance and ensure that the financial component of the award retains its value over time,” she said.
The names of this year’s Nobel laureates in physics, chemistry, peace, literature, economics, and physiology or medicine will be announced from Oct. 5 to 12. This year’s award ceremonies will mark the 125th anniversary of the first Nobel Prize presentation.
The Nobel Prize was established in accordance with the will of 19th-century Swedish entrepreneur and dynamite inventor Alfred Nobel. The first award ceremonies were held in 1901.
