Press release from the Nobel Foundation

The amount of the Nobel Prize is being increased by 1 million SEK

23 September 2020

The Nobel Foundation’s Board of Directors has decided that the 2020 Nobel Prize will amount to 10 million SEK per prize category. That means an increase of 1 million SEK per prize category compared to prior years. The work done in recent years to strengthen the Nobel Foundation’s financial standing has made it possible to increase the prize sum.

“Public announcement of the 2020 Nobel Prize laureates will begin on 5 October”, says Lars Heikensten, Executive Director of the Nobel Foundation. “It feels especially important this year to celebrate the laureates’ achievements in inspiring us and giving us hope for the future. As we approach the announcement week, we are delighted to say that we are increasing the amount this year by 1 million SEK.”

Since the beginning of 2012 the Nobel Foundation’s investment capital has risen substantially, from just under SEK 3 billion to SEK 4.6 billion. The return on this capital during the corresponding period has been close to 9 per cent annually as a result of generally good market performance but also due to good results from the Foundation’s own asset management. At the same time, the Foundation has taken initiatives to reduce its operating expenses.

“Because the Nobel Foundation’s finances are now significantly more stable than before, it is possible to increase the prize amount. The ambition of the Nobel Foundation is to ensure that in the future, the size of the Nobel Prize will follow the trend of real incomes in society, ” says Lars Heikensten.

The 2020 Nobel Laureates will be announced starting on 5 October. Follow the events live at https://www.nobelprize.org/

The ongoing global pandemic means that the celebrations in Stockholm and Oslo in December will adopt new formats with more digital elements. Read more: https://www.nobelprize.org/press-nobel-week-will-assume-new-formats/

About the prize amount

The size of the Nobel Prize was reduced in 2011 from 10 to 8 million SEK, and at the same time a broad programme of strategies was undertaken to strengthen the Nobel Foundation’s financial position. In 2017, the prize amount was increased from 8 to 9 million SEK. This year the Foundation’s board decided to further increase the amount back up to 10 million SEK in each category.

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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