The Nobel Prize is shrinking

The international financial crisis and the fall in stock exchanges also have an impact on the Nobel Prize.

The prize in monetary terms has decreased from 10 million Swedish krona, to 8 million. The Nobel Committee uses various financial instruments to replenish the fund, mostly using "safe investments". In the beginning there were investments in government securities, and since 1950 some of the money has been invested in the stock market. In general, these have been good investments, but in the last five years the total fund has dropped from SEK 3.7 billion to SEK 2.9 billion.
"The prize is now, in monetary terms, equal to the first prize awarded in 1901," said Lars Heikensten, president of the Nobel Foundation. "The prize was increased in the late '90s, when markets were booming.
As long as the prize exceeds $1 million. The Nobel brand will continue to exist, experts say.
Costs for the annual Nobel Banquet will be reduced, but it won't particularly affect the celebration, Heikensten said.

According to the foreign press for ForTrader.org

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