The value of the Nobel Prize has been rising since this year. Lars Hackenstein, head of the Nobel Foundation, said on Thursday that the winners would receive one million kroner, or about ১০ 110,000, more than last year. The Swedish daily Dagen Industry reported. News Reuters
Alfred Nobel, the inventor of dynamite, left 31 million kroner, which is roughly equal to the current 160 crore kroner. It was from this money that the prestigious Nobel Prize was introduced in 1901. For more than a hundred years, the Nobel Prize has been considered the most prestigious in the world.
Initially, the winners were given one and a half lakh kroner, but later it increased to one million kroner in 1971. In the next two decades, the value of money increased further. In 2000, the value of each award stood at 9 million kroner. The following year it increased to one crore kronor.
Heikenstein, the former head of Sweden's central bank, was brought in to take charge of the foundation after the 2008-09 recession damaged the Nobel Foundation's investment.
However, during Hackenstein, the prize money went down. In 2012, the prize money was 60 lakh kroner, in 2016 it was 9 million kroner. He is stepping down as the foundation's chief executive later this year. He is being replaced by former Norwegian Foreign Minister Vidan Helgesen.
