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nobel awards

Prize Fund Down 19%

Published fredag 24 april 2009 kl 18.51
A Nobel gala from 1962

Hoping to have your genius recognised one day? Well watch out - the foundation that awards the nobel prizes has made major losses in the last year.

Established by the Swedish dynamite manufacturer Alfred Nobel, the Nobel Foundation awards every nobel laureate over a million US dollars. This year the award will stay just as high, even though the Nobel Foundation’s fortune has dropped by 19% due to recent troubles on the stock market.

There is still almost 350 million US dollars in the fund, enough to cover many more awards. Last years costs amounted to over 14 million US dollars, half to the Nobel laureates and half for administrative costs and the ceremonial event.

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