BAKU, Azerbaijan, September 19. The Swedish Nobel Foundation has announced a nine percent increase in the financial value of the Nobel Prize, raising the award amount to 12 million Swedish kronor ($1.22 million) for each of the six prize categories.
The foundation said the increase is aimed at preserving the long-term value and significance of the prestigious awards.
“By increasing the prize amount, we uphold the long-term significance of the Nobel Prize and ensure that the financial part of the prize retains its value over time,” Nobel Foundation Executive Director Hanna Stjärne said in a statement to Reuters.
The Nobel Prizes, established according to the will of Swedish inventor Alfred Nobel in the 19th century, were first awarded in 1901. At that time, the value of each prize was 150,782 Swedish kronor.
The six categories include Physics, Chemistry, Peace, Literature, Economic Sciences and Physiology or Medicine.
The 2026 Nobel Prize laureates will be announced between October 5 and October 12, coinciding with the 125th anniversary of the first Nobel Prize awards.
The Nobel Foundation manages Alfred Nobel’s financial assets and oversees the funding of the annual awards.
The prize remains one of the world’s most recognized international honours, awarded to individuals and organizations for achievements in science, literature, peace and economic research.
