October 16, 2023
The Nobel Foundation decided to increase this year’s Nobel Prize money by 1 million Swedish crowns, taking the total prize money to 11 million Swedish crowns, which is approximately ₹8 crore. Over the years, the Nobel Prize amount has fluctuated based on the Nobel Foundation’s finances. In 2023, the organisation decided to increase the prize money to show its stronger financial state. Over the last decade, the Swedish currency has depreciated significantly, losing approximately 30% of its value with respect to the Euro. Thus, the increase in the prize amount will be insignificant to most winners outside Sweden. The Nobel Prize winners will receive their awards on December 10, the death anniversary of Alfred Nobel.
Did You Know?
Pakistan’s Malala Yousafzai, who won the Nobel Prize in 2014, is the youngest person to win the prize at the age of 17.
Image Source: wikipedia.org
