Nobel Foundation raises prize money ahead of 2026 awards

The Nobel Foundation has increased the amount of the 2026 Nobel Prize to SEK 12 million ($1.3 million) per prize category, marking a SEK 1 million increase from previous years.

The increase comes as the Nobel Prize marks its 125th anniversary this year.

“This year, we are celebrating the 125th anniversary of the Nobel Prize, and in connection with this, we are pleased to be able to increase the prize amount by one million. By increasing the prize amount, we uphold the long-term significance of the Nobel Prize and ensure that the financial part of the prize retains its value over time,” said Hanna Stjärne, Executive Director of the Nobel Foundation.

When the first Nobel Prizes were awarded in 1901, the prize amount was SEK 150,782 per category. The amount has been adjusted several times over the past 15 years.

In 2012, the prize amount was reduced from SEK 10 million to SEK 8 million as part of a broader program to strengthen the Nobel Foundation’s finances. It was subsequently increased three times before reaching SEK 12 million in 2026.

This year’s Nobel Prize announcements are scheduled to take place from October 5 to 12.

By Vafa Guliyeva