Legend has it that in 1888, a French newspaper mistakenly wrote that Alfred Nobel, inventor of dynamite, had died.
And it explained the event in a defamatory language: “Dr. Alfred Nobel, who became rich by finding ways to kill more people faster than ever before, died yesterday.”
Alfred Nobel didn’t like that and decided to use his massive fortune to award those who did most to change the world for the better.
The authenticity of this story is not verified but this is an anecdote popular enough to generate great interest.
Reason 2: Huge cash prize.
Before the launch of the Nobel prize, scientists were awarded titles & medals; so, the cash prize of about US $1million that accompanies a gold medal has been a huge draw.
As per Nobel’s will, the equivalent of US$265 million was used to create the Nobel Foundation; this amount, invested in financial instruments with good returns, funds the prize money.
Reason 3: It is over 100 years old; the prizes in Chemistry, Literature, Peace, Physics, and Physiology or Medicine were first awarded in 1901.
Reason 4: Difficult selection.
In September of each year, the Nobel Committee sends out thousands of nomination formsRegarding the Peace Prize, nominations can come from a government, a member of the national assembly, an international court, former Peace Prize laureates, and current or former members of the Norwegian Nobel Committee. to academies, university professors, scientists, previous Nobel Laureates, etc.
These individuals or institutions nominate prominent people (no one can nominate self) under the 5 categories.
Completed forms received by 31st Jan of the year of the award are evaluated and a report is made for only about 300 potential laureates, whose names are kept secret for 50 years from the year of the award.
The report is then shared with the 4 institutions (one for physics & chemistry, one for literature, one for physiology, and a committee for peace prize) that were designated by Alfred Nobel in his will.
The institutions choose the laureate or laureates (max 3 in each field, except for the peace prize that can be awarded to an organization of more than 3 people) by a majority vote and announce the names in October.
The awards ceremony is held on 10th December, the anniversary of Alfred Nobel’s death.
