Nobel Prize Revenue and Competitors

Alfred Nobel had a vision of a better world. He believed that people are capable of helping to improve society through knowledge, science and humanism. This is why he created a prize that would reward the discoveries that have conferred the greatest benefit to humankind. Since 1901, the Nobel Prize has been awarded in the fields of physics, chemistry, physiology or medicine, literature and peace, while a memorial prize in economic sciences was added in 1968. The economic foundations for the Nobel Prize were laid in 1895, when Alfred Nobel signed his last will and left much of his wealth to the establishment of a prize and the subsequent Nobel Foundation, which is tasked with a mission to manage his fortune and has ultimate responsibility for fulfilling the intentions of Nobel's will. In accordance with the instructions Nobel left through his will, various independent prize-awarding institutions have selected Nobel Laureates in each prize category for more than a century.