The Nobel Foundation announced on Friday (September 18th) that the prize money for the 2026 Nobel Prizes will increase by 1 million Swedish kronor, from last year’s 11 million kronor to 12 million Swedish kronor (approximately 1.22 million dollars).
In a statement, the Foundation’s Executive Director, Hanna Stjärne, expressed the Foundation’s pleasure in increasing the prize money at this special moment, as the Nobel Prizes mark their 125th anniversary this year. “Raising the prize money helps to uphold the long-term significance of the Nobel Prizes and ensures that the actual value of the prize money can be maintained over time.”
The increase in prize money amounts to about 101,700 US dollars. If a Nobel Prize is awarded to two or more laureates, the prize money will be shared among the recipients.
The Nobel Prizes were established based on the will of Alfred Nobel, a 19th-century Swedish businessman and inventor of dynamite. The first prizes were awarded in 1901, with each award carrying a prize of 150,782 Swedish kronor (approximately 15,000 US dollars). Over 125 years of development, the Nobel Prizes have become one of the most prestigious international awards, covering fields such as physiology or medicine, physics, chemistry, literature, peace, and economics.
This year’s Nobel Prize week will kick off on October 5th with the announcement of the laureates for the physiology or medicine award.
The announcement schedule is as follows:
– October 5th: Physiology or Medicine Prize
– October 6th: Physics Prize
– October 7th: Chemistry Prize
– October 8th: Literature Prize
– October 9th: Peace Prize
– October 12th: Economic Sciences Prize
According to Nobel’s will, the Nobel Peace Prize will be announced in Oslo, Norway, while the other major awards will be unveiled sequentially in Stockholm, Sweden.