19 Facts About Nobel Foundation

Nobel Foundation is a private institution founded on 29 June 1900 to manage the finances and administration of the Nobel Prizes.

Nobel Foundation owned Bofors, a major armaments manufacturer, which he had redirected from its original business as an iron and steel mill.

Nobel Foundation held 355 different patents, dynamite being the most famous.

Nobel Foundation amassed a sizeable personal fortune during his lifetime, thanks mostly to this invention.

In 1896 Nobel Foundation died of a stroke in his villa in San Remo, Italy where he had lived his final years.

Related searches

Nobel Foundation's will expressed a request, to the surprise of many, that his money be used for prizes in physics, chemistry, peace, physiology or medicine and literature.

Executors of his will were Ragnar Sohlman and Rudolf Lilljequist who formed the Nobel Foundation to take care of Nobel's fortune and organize the prizes.

Nobel Foundation was founded as a private organisation on 29 June 1900 specifically to manage the finances and administration of the Nobel Prizes.

At the time Nobel Foundation's will led to much skepticism and criticism and thus it was not until 26 April 1897 that his will was approved by the Storting.

The next thing the Nobel Foundation did was to try to agree on guidelines for how the Nobel Prize should be awarded.

In 1900 the Nobel Foundation's newly created statutes were promulgated by King Oscar II.

Norway's Nobel Foundation Committee became the awarder of the Peace Prize while Sweden became the awarder of the other prizes.

The Nobel Foundation is not involved in any way in the process of selecting the Nobel laureates.

In many ways the Nobel Foundation is similar to an investment company in that it invests money in various ways to create a solid funding base for the prize and the administrative activities.

The Nobel Foundation is exempt from all taxes in Sweden and from investment taxes in the United States .

Apart from the board, the Nobel Foundation is made up by the prize-awarding institutions, the trustees of the prize-awarding institutions and auditors.

The Nobel Foundation quickly reacted by threatening legal action for "clear misuse of the reputation and goodwill of the Nobel Prize and the associations of integrity and eminence that has been created over time and through the efforts of the Nobel Committees".

The Norwegian Nobel Foundation Committee based in Oslo confers the prize for peace.

The Nobel Foundation is the legal owner and functional administrator of the funds and serves as the joint administrative body of the prize-awarding institutions, but it is not concerned with the prize deliberations or decisions, which rest exclusively with the four institutions.