On November 27, 1895, Alfred Nobel signed his third and last will at the Swedish-Norwegian Club in Paris. When it was opened and read after his death, the will caused a lot of controversy both in Sweden and internationally, as Nobel had left much of his wealth for the establishment of a prize. His family opposed the establishment of the Nobel Prize, and the prize awarders he named refused to do what he had requested in his will. It was five years before the first Nobel Prize could be awarded in 1901.
He had written: “All of my remaining realizable assets are to be disbursed as follows: the capital, converted to safe securities by my executors, is to constitute a fund, the interest on which is to be distributed annually as prizes to those who, during the preceding year, have conferred the greatest benefit to humankind. The interest is to be divided into five equal parts and distributed as follows: one part to the person who made the most important discovery or invention in the field of physics; one part to the person who made the most important chemical discovery or improvement; one part to the person who made the most important discovery within the domain of physiology or medicine; one part to the person who, in the field of literature, produced the most outstanding work in an idealistic direction; and one part to the person who has done the most or best to advance fellowship among nations, the abolition or reduction of standing armies, and the establishment and promotion of peace congresses. The prizes for physics and chemistry are to be awarded by the Swedish Academy of Sciences; that for physiological or medical achievements by the Karolinska Institute in Stockholm; that for literature by the Academy in Stockholm; and that for champions of peace by a committee of five persons to be selected by the Norwegian Storting. It is my express wish that when awarding the prizes, no consideration be given to nationality, but that the prize be awarded to the worthiest person, whether or not they are Scandinavian.”
Even though this was to the great disappointment of some of his relatives and friends, Alfred Nobel, through economic foundations he laid out when writing his wills, was able to leave behind him an award that would become one of the most prestigious in the world.
Nobel believed that people are capable of helping to improve society through knowledge, science, and humanism; he thus created a prize that would reward the discoveries that have conferred the greatest benefit to humankind. Since 1901, the Nobel Prize has been awarded in the fields of physics, chemistry, physiology or medicine, literature and peace, while a memorial prize in economic sciences was added in 1968, inspiring future generations to shape a world brighter than the past.
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