Norwegian Author Jon Fosse Awarded 2023 Nobel Prize In Literature

Nobel Prize

• The Nobel Prize was established through the will of businessman and entrepreneur Alfred Nobel who left the majority of his fortune to rewarding contributions to the fields of physics, chemistry, medicine, literature, and peace that have conferred the greatest benefit to humankind.
• In 1968, Sveriges Riksbank, the Swedish central bank, established the  Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, which is presented as the Nobel Prize in Economics.
• Alfred Nobel held 355 patents and is most famous for the invention of dynamite.
• The Nobel Prizes have been awarded annually since 1901 with few exceptions such as World War 1 and World War 2.
• Winnings:
  • Laureates receive a Nobel Prize diploma, a Nobel Prize medal, and a document detailing the Nobel Prize amount
  • The prize money was raised by 1 million kronor in 2023 and amounts to 11 million Swedish kronor.
• Conditions:
  • The Prize can be shared by a maximum of three individuals, or in the case of the Peace Prize, it can also be awarded to an organization.
  • It cannot be awarded posthumously but since 1974, it has been awarded to recipients who have died after the announcement.
• Who selects the winners:
  • Except for the Nobel Peace Prize, the nomination for the prizes is by invitation only and nominators must fulfill the criteria set out by the awarding institutions.
  • Nobel Prize in Physics and Chemistry: The Royal Swedish Academy of Sciences
  • Nobel Prize in Physiology or Medicine: The Karolinska Institutet for the
  • Nobel Prize in Literature: The Swedish Academy
  • Nobel Peace Prize: A Committee of five persons to be elected by the Norwegian Parliament (Storting)
  • Nobel Prize in Economics: Royal Swedish Academy of Sciences