Nobel Prize

The Nobel Prize is one of the world’s most prestigious international awards, given annually to individuals or organisations that have made exceptional contributions in specific fields. It was established based on the will of Alfred Nobel, a Swedish chemist, engineer, and inventor of dynamite, who wanted his fortune to fund prizes that “benefit mankind.”

Origins
Alfred Nobel (1833–1896) left most of his wealth to create the Nobel Prizes.
The first Nobel Prizes were awarded in 1901.
Nobel created the awards partly due to regret over his inventions being used destructively, which earned him the nickname “merchant of death.”

Prize Categories
The Nobel Prizes are awarded in six fields:

Physics
For groundbreaking discoveries about the natural laws of the universe.

Chemistry
Awarded for significant contributions to chemical science and research.

Physiology or Medicine
For advances that improve understanding of living systems or medical breakthroughs.

Literature
Given to an author, poet, or playwright with outstanding literary work.

Peace
Awarded to individuals or groups working to promote peace, prevent conflict, or support human rights.

Economic Sciences
Officially called The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (created in 1968).
It is not originally in Nobel’s will, but widely considered part of the Nobel Prize family.

Who Decides the Winners?
Different institutions select laureates:
Physics & Chemistry – Royal Swedish Academy of Sciences
Physiology/Medicine – Nobel Assembly at Karolinska Institute
Literature – Swedish Academy
Peace – Norwegian Nobel Committee (Storting appoints members)
Economics – Royal Swedish Academy of Sciences

What Do Laureates Receive?
Each Nobel laureate gets:
A medal
A diploma
A cash award (amount varies yearly; recently around 11 million SEK)
Winners are announced in October, and the awards are presented on 10 December each year — the anniversary of Alfred Nobel’s death.

Significance
The Nobel Prize is often seen as the highest honor in a field.
It recognises lifelong work or transformative discoveries.
Nobel Peace Prize laureates often influence global diplomacy and humanitarian efforts.