History of Nobel Prize - QS Study
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The Nobel Prize is the world’s most important prize. This prize is given to persons with most outstanding contributions in six fields. The prize was instituted by a man who was the inventor of the science of destruction. This scientist was Alfred Bernard Nobel. He was born in Stockholm on the 21st October. 1833 and he died on the 10th December 1896. Though he was a citizen of Sweden, he was educated in Russia. He invented dynamite. The material is widely used for breaking rocks, digging petrol wells and in wars. For this valuable discovery, Nobel became famous all over the world. He earned a huge sum of money from selling it.

At the time of his death, he left a will indicating that the interest on this money should be given as prizes for the outstanding continuations to physics, chemistry, medicine, literature and peace. Economics was added in the list in 1969 for the first time. The prize was named Nobel Prize. The first Nobel Prize was given to Rontgen on the 10th December 1901 for his outstanding research in X-rays.