Nobel Foundation increases prize money for 125th anniversary

The Nobel Foundation has announced an increase in the prize money for the Nobel Prizes to mark the 125th anniversary of the awards. Starting this year, the award for each category will rise to 12 million Swedish kronor, which is approximately 1.21 to 1.22 million US dollars. This represents a 1 million kronor increase from the 11 million kronor allocated in 2025.

Nobel Foundation Director Hanna Stjärne stated that the increase aims to preserve the long-term relevance of the prizes and ensure that the economic value of the award maintains its worth over time against global economic fluctuations. If a single discipline has multiple winners, the total amount will be shared among them.

The announcement comes ahead of the Nobel Prize week, which begins on October 5 with the announcement of the Physiology or Medicine prize. The schedule for the upcoming announcements is as follows: Physics on October 6, Chemistry on October 7, Literature on October 8, Peace on October 9, and Economic Sciences on October 12.