Nobel Foundation

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The Nobel Foundation is a private institution established in 1900 based on the will of Alfred Nobel, the inventor of dynamite. The foundation is responsible for managing the finances and administration of the Nobel Prizes.

History[edit | edit source]

The Nobel Foundation was founded in 1900, following the death of Alfred Nobel in 1896. Nobel's will specified that his fortune should be used to create a series of prizes for those who confer the "greatest benefit to humankind" in the fields of Physics, Chemistry, Physiology or Medicine, Literature, and Peace. The foundation was established to manage the assets and ensure the proper administration of the prizes.

Organization[edit | edit source]

The Nobel Foundation is governed by a board of directors, which includes representatives from the prize-awarding institutions: the Royal Swedish Academy of Sciences, the Swedish Academy, the Karolinska Institute, and the Norwegian Nobel Committee. The board is responsible for the overall management of the foundation's activities and finances.

Financial Management[edit | edit source]

The foundation's capital is invested in a diversified portfolio to ensure the long-term sustainability of the Nobel Prizes. The foundation's financial strategy aims to generate sufficient returns to cover the prize amounts, administrative costs, and other expenses.

Nobel Prizes[edit | edit source]

The Nobel Prizes are awarded annually in the fields specified by Alfred Nobel's will. The prize-awarding institutions are responsible for selecting the laureates. The prizes are presented on December 10th, the anniversary of Alfred Nobel's death, in ceremonies held in Stockholm and Oslo.