How much prize money do Nobel laureates receive?
The Nobel Prize comes with a cash award of $1.2 million and a lifetime fame. The laureates also receive a Nobel Prize medal and a diploma.
The much-awaited announcement of the Nobel Peace Prize on Friday revealed Maria Corina Machado as the winner. Announced after weeks of speculation, Machado is a former opposition presidential candidate in Venezuela.
This week was filled with Nobel Prize announcements, starting from October 6, when Mary E Brunkow, Fred Ramsdell and Dr Shimon Sakaguchi won the Nobel Prize in medicine for their discoveries. Now, as most of the announcements have already been made, here is how much prize money the laureates receive.
How much money do laureates receive?
The prize money for 2025 is 11 million Swedish kronor. This prize money was the same in 2023 and 2024, while it was SEK 10 million in 2022.
According to the official website of the Nobel Peace Prize, on 27 November 1895, a year before his death, Alfred Nobel, the inventor of the prize, signed his will, which would implement some goals. In his will, Nobel stated that most of his estate, more than 31 million Swedish kronor (today approximately SEK 2.2 billion), should be converted into a fund and invested in “safe securities.”
The income from these investments was to be “distributed annually in the form of prizes to those who during the preceding year have conferred the greatest benefit to humankind.”
Also read: Why was Venezuela's Maria Corina Machado awarded Nobel Peace Prize 2025? Details
What else do laureates receive
Nobel Prize medal
Along with the prize money, the Nobel Prize laureates have also received a Nobel Prize medal since 1901. The Nobel Prize medals were designed by Swedish artist Erik Lindberg, who lived in Paris at the time. While Erik Lindberg was responsible for designing the “Swedish” Nobel Prize medals, the Norwegian sculptor Gustav Vigeland was entrusted to design the Norwegian Nobel Peace Prize medal in 1901.
All medals have some differences in their design (except physics and chemistry, which look the same). All the medals are of gold bearing the image of Alfred Nobel.
Also read: Which countries breed Nobel laureates, and which import them?
Nobel Prize diploma
Laureates also receive a diploma, which is a unique work of art where the design is decided by the prize-awarding bodies. The “Swedish” Nobel Prize diplomas generally contain the same type of text, including the name of the recipient and a citation explaining the reason for the award. In contrast, the Norwegian Nobel Peace Prize diploma has never included a citation.
Among some of the famous names to receive the Nobel Prize are Malala Yousafzai, Barack H Obama, Albert Einstein, Aung San Suu Kyi, Marie Curie and many others.
