Winners of the prestigious Nobel prizes this year will receive an extra 1 million crowns ($110,000), the head of the foundation which oversees the awards said. Prize money will increase to 10 million crowns this year.
About:
Dynamite inventor Alfred Nobel left around 31 million crowns - about 1.8 billion crowns in today's money according to the Foundation - to fund the prizes, which have been awarded since 1901.
The prize amount has varied over time, starting at 150,000 crowns and reaching 1 million crowns in 1981. The value rose sharply in the 1980s and 1990s, jumping to 9 million crowns in 2000 and 10 million a year later.
But the global credit crunch of 2008-9 hit the Foundation's investments. The prize money was cut to 8 million crowns in 2012 only to rise again to 9 million in 2017.
Dear Student,
You have still not entered your mailing address. Please enter the address where all the study materials will be sent to you. (If applicable).
