How much money does the Nobel Peace Prize winner earn?

The 2023 Nobel Peace Prize has been awarded to Iranian activist Narges Mohamadi. The Norwegian Nobel Committee has awarded her the prestigious award for her “fight against the oppression of women in Iran and her fight to promote human rights and justice for all.”

The Iranian activist thus joins a list of illustrious names awarded the Nobel Peace Prize, such as Mother Teresa of Calcutta, Nelson Mandela or Martin Luther King. A recognition that Alfred Nobel bequeathed in his will and that is granted “to the person who has done the best work or the greatest number of contributions to fraternity between countries, the suppression or reduction of armies, as well as the participation and promotion of peace and human rights congresses”; and that in addition to the award comes with a financial prize.

How much money does a Nobel Prize winner earn?

The Nobel Peace Prize, like the rest of these awards, is awarded by the Norwegian Nobel Committee and the Nobel Foundation to which Alfred Nobel bequeathed his entire fortune upon his death, about 31 million Swedish crowns (currently about 1,794 million of Swedish crowns), in 1896, for its granting as a reward in the prizes that bear his name, as provided by the Swedish inventor in his will. In the first edition of the Nobel Prizes, each winner was awarded an amount of just over 150,000 Swedish crowns at the time.

Currently, the Nobel Foundation has set an amount of 11 million Swedish crowns for each of the Nobel Prize categories for the 2023 prizes, a figure close to 950,000 euros at the exchange rate.