All about Nobel Prize

Initiation of Nobel prize

On 27 November 1895, Alfred Nobel signed his last will and testament, giving the largest share of his fortune - more than SEK 31 million (today approximately SEK 1,702 million) to be converted into a fund and invested in "safe securities." The income from the investments was to be "distributed annually in the form of prizes to those who during the preceding year have conferred the greatest benefit to mankind." The first Nobel prize was awarded in 1901.

Prize categories

The Nobel Prizes were initially given in the areas of Physics, Chemistry, Physiology or Medicine, Literature and Peace. In 1968, Sveriges Riksbank (Sweden's central bank) established The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

The Nobel Prize Award Ceremonies

The Nobel Laureates are announced at the beginning of October each year. A couple of months later, on 10 December, the anniversary of Alfred Nobel's death, they receive their prizes from the Swedish King – a Nobel diploma, a medal, and a prize money of Swedish kronor (SEK) 11.0 million per full Nobel Prize (for 2023).

All Nobel Prizes are awarded in Stockholm, Sweden, except for the Nobel Peace Prize, which is awarded in Oslo, Norway. (When Alfred Nobel was alive, Norway and Sweden were united under one monarch, until 1905 when Norway became an independent kingdom with its own king.)

The Nobel Prize Insignias

At the Nobel Prize Award Ceremonies on 10 December the Nobel Laureates receive three things:

• a Nobel Diploma - Each Nobel Diploma is a unique work of art, created by foremost Swedish and Norwegian artists and calligraphers.
• a Nobel Medal -  The Nobel Medals are handmade with careful precision and in 18 carat green gold plated with 24 carat gold. The Nobel Medals in Physics, Chemistry, Physiology or Medicine and Literature are identical on the face: it shows the image of Alfred Nobel and the years of his birth and death (1833-1896). Nobel's portrait also appears on the Nobel Peace Prize Medal and the Medal for the Prize in Economic Sciences, but with a slightly different design. The image on the reverse varies according to the institution awarding the prize.
• A document confirming the Nobel Prize amount - The Nobel Prize amount for 2024 is set at Swedish kronor (SEK) 11.0 million per full Nobel Prize.

Why are the individuals and organisations awarded a Nobel Prize called Nobel Laureates?

The word "Laureate" refers to being signified by the laurel wreath. In Greek mythology, the god Apollo is represented wearing a laurel wreath on his head. A laurel wreath is a circular crown made of branches and leaves of the bay laurel (in Latin: Laurus nobilis). In Ancient Greece, laurel wreaths were awarded to victors as a sign of honour - both in athletic competitions and in poetic meets.

Facts about Nobel Laureates

• Between 1901 and 2024, the Nobel Prizes and the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel were awarded 624 times to 1007 people and organisations. 
• With some receiving the Nobel Prize more than once, this makes a total of 972 individuals and 27 organisations
• Since the start, in 1901, there are some years when the Nobel Prizes have not been awarded. The total number of times are 49. Most of them during World War I (1914-1918) and II (1939-1945).
• The most common fields for Physics Laureates is particle physics, for Chemistry Laureates it is biochemistry, for Medicine Laureates it is genetics and for Laureates in Economic Sciences it is macroeconomics. Most of the Literature Laureates write prose.
• The youngest Nobel laureate is Ms Malala Yousafzai who was awarded the Peace Prize 2014 when she was 17 years old. The oldest Noble laureate is John B. Goodenough who was awarded the Prize in Chemistry in 2019 when he was 97 years old.
• Between 1901 and 2024 the Nobel Prize and prize in economic sciences have been awarded 65 times to women.
• The work of the International Committee of the Red Cross (ICRC) has been honoured by a Nobel Peace Prize three times. Besides, the founder of the ICRC, Henry Dunant, was awarded the first Nobel Peace Prize in 1901.
• Linus Pauling is the only person to have been awarded two unshared Nobel Prizes - the 1954 Nobel Prize in Chemistry and the 1962 Nobel Peace Prize.
• The Curies were a very successful ‘Nobel Prize family’. Marie Curie herself was awarded two Nobel Prizes.

To get the list of Nobel laureates, click here.

Source : Website of Nobel Prizes