Instituted the Nobel Prize

Who instituted the Nobel Prize?

            Nobel Prize is considered to be the most prestigious award in the world. It is awarded each ear to people who make outstanding contributions in the fields of science, literature or in promoting world peace.
Alfred Bernhard Nobel

            Do you know how and by whom the Nobel Prize was started? It was started by a Swedish chemist, Alfred Bernhard Nobel who in his will, directed that the income from his $9-million estate should be used to fund five annual prizes. Alfred Nobel was born in Stockholm on October 21, 1833. he invented dynamite, an explosive that is widely used for breaking rocks, oil exploration and warfare. He earned a vast fortune from his invention. Apart form bringing him wealth, this invention also bought him will deserved fame. When he died on 10th December 1896, he left behind a sum of 90, 00,000 dollars- a considerable sum in those days.

            The Nobel Prize is the most coveted and respected prize in the world. This prize is given to people who make the most outstanding discoveries or inventions in five fields, namely, physics, chemistry, literature, physiology or medicine and peace. The prizes were first presented in 1901. Later, a sixth award for economic was added and first awarded in 1969 as the Nobel memorial prize.

            Every Nobel laureate gets a gold medal, a certificate and a large sum of money. One prize is awarded in each field, every year. If there are more than one recipients of the prize in one field, the prize money is shared equally amongst all the winners.

            The first Nobel prize was given to Wilhelm K. Roentgen on 10th December 1901 for his outstanding research on x-rays. The prize money was 40,000 dollars. The winners of this prize are treated with the greatest respect and admiration all over the world.

            A council called Nobel foundation of Sweden awards the Nobel prizes. The royal academy of sciences, Stockholm, selects the best scientist of the year in the fields of physics and chemistry. The Caroline institute of Stockholm selects the best man in the field of medical science, while the Swedish academy of literature does it for literature. Similarly a committee of five persons appointed by the parliament of Norway selects the best people who deserve the peace prize.

            Some of the may many outstanding people of the world who have received the Nobel prize are- Albert Einstein, George Bernard Shaw, Rabindranth Tagore, Sir C.V. Raman, Hargobind Khorana, and Mother Teresa.

            The youngest man to receive a Nobel prize was sir William Lawrence Bragg of England, who received the Nobel prize for physics when he was only 25 years of age.

            Nobel became so well-known that the 102nd element to be discovered was named nobelium in his honor. The Nobel institute of Sweden is also named after him.