Nobel Prize to be slashed by 20%
The amount of the Nobel Prize shall be reduced by 20% - to $ 1.1 million. In the opinion of the Fund’s Board of Directors, this will help avoid a reduction of the organization’s capital in the long term.
In recent years, the organization’s income has barely been sufficient to cover the expenses. The initial size of the Alfred Nobel Fund, established in 1900, was approximately $ 250 million. Award winners are paid from the interest on securities transactions.