What is the purpose of awarding the Nobel Prize?

The Nobel Prize is awarded to honour individuals and groups that have made outstanding contributions to humanity in various fields, including physics, chemistry, physiology or medicine, literature, peace, and economic sciences.

The economic foundations for the Nobel Prize were laid in 1895, when Alfred Nobel signed his last will and left much of his wealth to the establishment of a prize and the subsequent Nobel Foundation. The foundation is tasked with the mission to manage Nobel's fortune and has the ultimate responsibility for fulfilling the intentions of his will.

In accordance with the instructions Nobel left through his will, various independent prize-awarding institutions have selected Nobel Prize laureates in each of the six prize categories for over a century.

Since its inception, the Nobel Prize has been awarded to 1,026 laureates.