Alfred Nobel (1833‑1896), a Swedish chemist and engineer, amassed more than 300 patents during his career, the most famous of which was dynamite—a safer way to handle nitroglycerine. Nobel’s invention revolutionized construction and mining but also found its way into warfare. Despite his wealth and industrial success, Nobel was a vocal pacifist, corresponding with Bertha von Suttner, a pioneer of the international peace movement.
In 1895 Nobel drafted his third and final will, bequeathing roughly $200 million (about $176 billion in today’s dollars) to create an annual award for those who had conferred the greatest benefit to humanity. He specified five categories: physics, chemistry, physiology or medicine, literature, and peace. The Nobel Foundation, established in 1900, has managed the endowment ever since.
In 1968 the Nobel Prize in Economic Sciences was added by donation from the Swedish central bank, a prize often referred to as a Nobel but technically separate from Nobel’s original endowment.
Contrary to popular myth, you cannot nominate yourself for a Nobel Prize. Each category has its own strict nomination protocol.
All Nobel Prizes are announced in early October, with each category revealed on a different day. The peace prize is awarded in Oslo, while the other prizes are presented in Stockholm.
Since 1901 the Nobel Prize has carried a substantial monetary award. In 2021 each prize was valued at 10 million Swedish kronor (≈ $1.17 million). The prize money is split evenly among multiple laureates, allowing up to three individuals to share a single award.
Laureates also receive an 18‑carat gold medal and a hand‑inked diploma, both crafted by Swedish and Norwegian artists. During Nobel Week in December, winners deliver lectures, attend a concert, and receive their awards from the King of Sweden (or the King of Norway for the peace prize).
While highly respected, the Nobel Prizes have faced several critiques:
2020 laureates included Roger Penrose, Reinhard Genzel, and Andrea Ghez (Physics); Emmanuelle Charpentier and Jennifer A. Doudna (Chemistry); Harvey J. Alter, Michael Houghton, and Charles M. Rice (Medicine); Louise Glück (Literature); the World Food Programme (Peace); and Paul R. Milgrom and Robert B. Wilson (Economics).
Nomination details are kept confidential for 50 years.
Linus Pauling is the only individual to win two separate Nobel Prizes (Chemistry 1954 and Peace 1962).
The International Committee of the Red Cross has won the Peace Prize three times.
In 2020 the World Food Programme received the Peace Prize for its efforts to combat hunger and prevent its use as a weapon of war.