In 1895, a year before his death, Alfred Nobel signed the famous will which would execute some of the objectives to which he had dedicated so much of his life.
Most of Nobel’s estate, more that Swedish Kronor 31 million (today about Swedish Kronor 1,500 million) as per the stipulations of Nobel’s will had to converted into a fund and invested in safe securities. Alfred Nobel willed the income from these investments to be distributed yearly in the form of prizes to those who during the previous year had bestowed the greatest gift on mankind.
Since 1901, the Nobel Prize has been honouring men and women from all the ends of the globe for their stupendous achievements in the fields of physics, chemistry, medicine, literature and peace. Winners of the Nobel Prize are scientists, writers, peacemakers who have been honoured for their achievements in their field of enterprise and they are collectively called Nobel Laureates or Nobel Prize winners.
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Only once during the years since the Nobel Prize was initiated a prize has been added – a Memorial Prize. The “Svergies Riksbank” Prize in Economic Science in memory of Alfred Nobel was donated by Sweden’s central bank to celebrate its tercentenary in 1968. It was later decided by the Board of Directors to keep the original five prizes intact and not to permit new additions.
As per Nobel’s will the prizes for physics and chemistry were to be awarded by the Swedish Academy of Sciences, the prizes for physiology and medical works to be awarded by the Karolinska Institute in Stockholm, the award for literature was to be awarded by the Academy in Stockholm and that for peace by a committee of five persons to be elected by the Norwegian
A staggering total of 797 Nobel Laureates have been awarded since 1901, comprising of 777 individuals and 20 organizations. No one can nominate himself or herself for the Nobel Prize. Qualifications to nominate candidates vary among the Nobel Prize Awarding Institutions.
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Information about the nominations is guarded fiercely by the Nobel Foundation and may not be revealed for a period of fifty years. The nominees, the nominators, the investigations and opinions are all kept under wraps. The youngest Laureate to be awarded the Nobel Prize is Lawrence Braggs. He was awarded the Nobel Prize for Physics in 1915 when he was just 25 years old. Leonid Hurwicz was awarded the Nobel Prize when he was ninety years old for economics. He was the oldest Laureate to receive the award. Marie Curie received the Nobel Prize twice, in 1903 in Physics and in 1911 in Chemistry.
Committee International de la Croix received the Nobel Peace Prize in 1917, 1944, and 1963. As prestigious as this award is, it has been declined by six Laureates.
The Nobel Prize Award Ceremonies and Banquets for Physics, Chemistry, Medicine, Literature and the Economic Sciences take place in Stockholm and the Nobel Prize for Peace in Oslo on the 10^ of December every year, the death anniversary of Alfred Nobel. The Nobel Prize still remains the most coveted prize globally.