History of Nobel Prize
Since the death of Alfred Nobel in 1896 the funds he left have been in a trust and given to honor those for their contributions to society. The amount of money left in the trust fund was more than $9 million. The first Nobel Prize was given in 1901. However this entire process almost didn’t come to be. The remaining family members of Alfred Nobel contested his will but they were not successful. The funds were placed in the trust and the first receivers of the Nobel Prize was chosen on the fifth anniversary of Nobel’s death.
Due to the economic and political issues surrounding World War II there were no winners of the Nobel Prize from 1940 through 1942. Determining the individuals and the institutions that should have the honor of winning a Nobel Prize is not easy. The committee has to determine that they contributions were significant in their area to impact society as a whole in a positive manner. There is a nomination process where those who have been invited to do so can nominate worthy individuals and institutions.
Many people find it difficult to comprehend why the names of the nominees aren’t disclosed. They are kept on file but not released until 50 years later. Many people feel that those who were nominated deserve to know about it at the time it takes place. A nomination as just as prestigious as winning the award. When the names are released 50 years later the majority of the people on the list are no longer alive to enjoy that honor.
Throughout history there have been some individuals who refused to accept the Nobel Prize. Le Duc Tho was a winner in 1973 for peace but he declined the honor. He felt that peace had not been reached in Vietnam so he was not worthy of the award. In 1937 Hitler make it illegal for any Germans to accept the Nobel Prize. However they are still part of the history and considered to be winners of the award even though they were not able to accept it based on the various circumstances. The cash awards in such circumstances are added back to the trust fund.
