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Nobel Foundation raises prize money to $1.2m each for 2026 awards
The Nobel Foundation said on Friday it had increased the 2026 prize money for its prestigious annual awards, the Nobel Prize, by 9%.
With the gesture, the prize money had now been increased to 12 million Swedish crowns ($1.22 million) in each of the six categories.
The additional 9% increase of one million kroner is equivalent to about $106,000.
The monetary award is often shared among co-winners in a situation where there are more than one laureate in any of the six prize categories.
According to a statement by the director of the Nobel Foundation, Hanna Stjarne, the increase is in celebration of the 125th anniversary of the Nobel Prize.
“This year, we are celebrating the 125th anniversary of the Nobel Prize, and in connection with this, we are pleased to be able to increase the prize amount by one million (kroner).
“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,” she said.
Nobel Prizes were awarded first in 1901, when the prize sum was 150,782 kroner per discipline.
While the prize in medicine will commence the 2026 Nobel week on October 5, each day would be followed by the prizes in physics, chemistry, literature and peace, with the economics prize wrapping up the announcements on October 12.
