Published by: CNBC-TV18.com
Alfred Nobel, a Swedish inventor, established the Nobel Prize.
Prizes are awarded annually for conferring the greatest benefit to humankind.
Initially five, a sixth prize was added in 1969.
The first Nobel Prize was awarded on 10th December, 1901.
The Sveriges Riksbank Prize in Economic Sciences is often associated with the Nobel Prizes.
Despite its association, the Economics Prize is not technically a Nobel Prize.
Winners receive a diploma, a medal, and a document confirming the prize amount.
The 2023 prize amount is set at SEK 11.0 million per full Nobel Prize.