Nobel prize cash raised to $1.1 million
The cash envelope that accompanies each Nobel prize will be increased this year from nine to 10 million kronor ($1.1 million), the Nobel Foundation said.
“The work done in recent years to strengthen the Nobel Foundation’s financial standing has made it possible to increase the prize sum,” the foundation said in a statement.
This year’s prizes in the fields of medicine, physics, chemistry, literature, peace and economics will be announced during the week of Oct. 5. The prize sum was reduced from 10 to 8 million Swedish kronor in 2011, when the foundation launched a program to improve its finances.
Since the beginning of 2012, its investment capital has risen from just under 3 billion kronor to 4.6 billion, while the return has been close to 9 percent per year.