Nobel Prize rises to almost US$1 million in 2023 – 09/15/2023 – Science

Winners of this year’s Nobel Prizes will receive an extra 1 million crowns, bringing the total financial reward to 11 million Swedish crowns ($986,000), according to the Nobel Foundation, which administers the prizes, on Friday.

The prize money has been adjusted up and down in recent years, and prize organizers said they were increasing the amount this year to reflect the foundation’s stronger financial position.

In 2012, the prize money was reduced from 10 million crowns to 8 million, as the foundation sought to bolster its finances. The prize value increased to 9 million in 2017 and, in 2020, to 10 million.

However, over the past decade the Swedish krona has lost around 30% of its value against the euro, meaning the latest increase in prize value will not leave winners outside of Sweden much richer.

In 2013, the awards for achievements in science, literature and peace — which were first awarded in 1901 — were worth about $1.2 million, despite the Swedish currency sum being cut to 8 million kroner.

The Nobel Prize in Physiology or Medicine is the first of this year’s awards and will be announced on October 2, followed by Physics, Chemistry, Literature and Peace in the following days.