The Nobel Foundation announced that it has increased the prize amount for each category to 12 million kronor—approximately 1.22 million dollars—this year. When the Nobel Prize was first awarded in 1901, the prize amount was 150,782 kronor. Over the past 15 years, the prize amount has been adjusted several times; after being reduced to 8 million kronor in 2012, it has since been increased three times. This year’s laureates will be announced between October 5 and 12.
