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Magadh Today - Beyond Headlines > Latest News > Global > Nobel Prize Laureates to Receive Enhanced Financial Reward in 2023
Global

Nobel Prize Laureates to Receive Enhanced Financial Reward in 2023

Gulshan Kumar
Last updated: 2023/09/17 at 2:17 PM
By Gulshan Kumar 2 years ago
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Stockholm – The Nobel Foundation, the governing body responsible for the prestigious Nobel Prizes, has announced an additional 1 million Swedish crowns (approximately $986,000) for this year’s Nobel Prize winners. This increase brings the total financial reward to 11 million Swedish crowns, reflecting the Foundation’s improved financial stability.

The Nobel Prize’s monetary value has undergone fluctuations in recent years. In 2012, the prize amount was reduced from 10 million crowns to 8 million as part of the Foundation’s financial restructuring efforts. Subsequently, in 2017, it was raised to 9 million and further increased to 10 million in 2020, returning to its pre-2012 level.

However, it is important to note that over the past decade, the Swedish crown has depreciated by approximately 30% against the euro. Consequently, the latest increment in prize value may not significantly enhance the economic well-being of laureates residing outside of Sweden.

In 2013, despite the reduction in the Swedish currency sum to 8 million crowns, the Nobel Prizes for achievements in science, literature, and peace were valued at around 1.2 million dollars.

The Nobel Prize in Physiology or Medicine will be the first to be announced on October 2, followed by the announcements of laureates in Physics, Chemistry, Literature, and Peace on subsequent days.

By Reuters

 

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