Nobel Prize 2020 Winners To Receive Additional USD 1 Million; Foundation Hopes To Raise Amount In Years Ahead

Stockholm: The head of the Nobel Foundation introduced on Thursday that the winners of the celebrated Nobel prizes this 12 months will obtain an additional 1 million crowns ($110,000). ALSO READ | UN Should Hold China Responsible For Unleashing COVID-19 Plague On World: US President Donald TrumpAs per the report by information company Reuters, the choice has been reached after the basis discovered itself in a secure situation with respect to prices and capital. It hopes to proceed elevating the quantity of the prize cash “from time to time”.

According to the Foundation, Dynamite inventor Alfred Nobel had left round 31 million crowns that are 1.eight billion crowns in at the moment’s cash – to fund the prizes, which have been awarded since 1901.

The prize quantity has been modified through the years, it started with 150,000 crowns – reaching 1 million crowns in 1981. The quantity rose considerably within the 1980s and 1990s, getting as much as 9 million crowns in 2000 and 10 million a 12 months after.

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But the worldwide monetary disaster of 2008-9 adversely affected the Foundation’s investments. At that time, Heikensten, a former central financial institution chief, helped the inspiration to get its funds in place.

The prize cash was then minimize to eight million crowns in 2012 however later raised once more to 9 million in 2017.

Heikensten will step down from the put up on the finish of this 12 months. Former Norwegian international minister Vidar Helgesen will take his place.

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