Tuesday, November 22, 2011

How does the Nobel Foundation get it's money?

I read that the money awarded to winners of Nobel Prizes depends on the Nobel Foundations income that year. In 2009 the prize was worth $1.4 million.





So how does the foundation get this money?|||The Nobel Prize was created by the inventor of Dynamite, Alfred Nobel who was horrified by the uses of his invention. So he used the profits from the sales of dynamite to create the Nobel Prize. Presumably the same profits today are being used to fund the Prize. But that's just a wild guess.|||It was a legacy left by Arthur Nobel. The fund is managed, with the prize money coming from the investment proceeds. Pulitzer Prizes are similar as are grant from the Rockefeller Foundation.|||charity and donations.

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