Nobel Prize announcements set to begin next week

The Nobel Prize announcements are set to begin next week, with the medicine award to be revealed first and the economics prize concluding the announcement schedule on October 12.

The prestigious awards recognise major contributions in physiology or medicine, physics, chemistry, literature and peace. The economics prize is also presented under the Nobel framework.

This year’s prizes carry an increased value of 12 million Swedish kronor, equivalent to around $1.21 million. Beyond the financial reward, Nobel laureates gain international recognition for their work.

Who created the Nobel Prize?

The awards were established through the will of Swedish chemist, inventor and businessman Alfred Nobel. He directed that much of his fortune be used to honour people whose work had provided significant benefits to humanity.

Nobel, who became wealthy through his inventions, is best known for developing dynamite. He was also interested in literature and languages and spoke several European languages.

His will originally established five prize categories. Nobel died in 1896, but legal disputes surrounding his estate delayed the first awards until 1901.

Who selects the winners?

The Royal Swedish Academy of Sciences awards the prizes in physics and chemistry, while the Swedish Academy is responsible for literature. The Karolinska Institute awards the medicine prize.

The Norwegian Nobel Committee, appointed by Norway’s parliament, selects the peace laureate.

The economics prize was established separately in 1968 by Sweden’s central bank to commemorate the 300th anniversary of its founding. It is awarded by the Royal Swedish Academy of Sciences according to principles similar to the original Nobel prizes.

Famous Nobel laureates

The Nobel roll of honour includes some of history’s most recognised scientists, writers and political figures, including Albert Einstein, Niels Bohr, Ernest Hemingway, Albert Camus and Nelson Mandela.

The Curie family has also made a remarkable mark on Nobel history. Marie Curie won the prize twice, while her husband Pierre Curie, daughter Irène Joliot-Curie and son-in-law Frédéric Joliot-Curie were also Nobel laureates.

Only a small number of people have received more than one Nobel Prize.

Nobel celebrations

The prizes are formally presented on December 10, the anniversary of Alfred Nobel’s death. The peace award ceremony takes place in Oslo, while the remaining prizes are presented in Stockholm.

The ceremonies are followed by the traditional Nobel banquet, attended by around 1,300 guests. The menu is prepared by leading Swedish chefs and remains secret until the event.

The celebrations traditionally feature Nordic-inspired cuisine, making the annual Nobel festivities one of the world’s most prominent events celebrating scientific, literary and humanitarian achievement.