Press release from the Nobel Foundation

Nobel Prize amount is raised by SEK 1 million

24 September 2017
Nobel Prize medal

© Nobel Prize Outreach. Photo: N. Adachi

The Board of Directors of the Nobel Foundation decided at its meeting on September 14, 2017 that the 2017 Nobel Prize will amount to SEK 9 million per prize category. This represents an increase of SEK 1 million compared to the previous years

– With the announcements of the 2017 Nobel Laureates starting next week, we are pleased to communicate that this year we are raising the prize amount by one million Swedish kronor. The Nobel Prize stands for science, humanism and international cooperation. At a time when knowledge and facts are being questioned, these values ​​are more important than ever, says Carl-Henrik Heldin, Chairman of the Nobel Foundation.

The size of the Nobel Prize was reduced from SEK 10 million to SEK 8 million in 2011. At the same time, a broadened programme to strengthen the finances of the Nobel Foundation was implemented. Although continued actions will be needed in order to strengthen the Foundation’s finances on a long-term basis, the situation is now regarded as having stabilised.

The ambition of the Nobel Foundation is to ensure that the future size of the Nobel Prize will follow the trend of real incomes in society.

The Nobel Foundation, a private foundation established in 1900, is ultimately responsible for ensuring that the intentions of the will of Alfred Nobel are fulfilled. The main mission of the Foundation is to manage the financial assets left behind by Alfred Nobel, as well as the extensive intellectual property related to the Nobel Prize that has developed over time. The Foundation finances the actual prize amount and the independent work of the prize-awarding institutions in selecting Laureates.  

The 2017 Nobel Laureates will be announced starting on October 2. Follow these events live on the official website of the Nobel Prize: https://www.nobelprize.org/

For detailed information about announcement times, venues and media registration: https://www.nobelprize.org/nobel_prizes/about/prize_announcements/

Nobel Foundation

The Nobel Foundation is a private foundation established in 1900 on the basis of the will of Alfred Nobel and the founding statutes promulgated in connection with the will. Its primary purpose is to ensure that the intentions of the will of Alfred Nobel are fulfilled. The Foundation is responsible for ensuring that the assets made available for awarding the Nobel Prize are managed in such a way as to safeguard the economic base of the Prize in a long-term perspective and guarantee the independence of the prize-awarding institutions in their work of selecting Laureates. The Nobel Foundation is also entrusted with managing and carefully developing the trademarks and intangible assets that have been built up during the more than century-long history of the Nobel Prize.

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