Nobel Foundation raises prize money for each award to $1.2 million

Sweden's Nobel Foundation said on Friday it will increase ​this year's prize money for its ‌prestigious annual awards by 9% to a total value of 12 million Swedish ​crowns ($1.22 million) in each of ​the six categories.
"By increasing the prize ⁠amount, we uphold the long-term ​significance of the Nobel Prize and ​ensure that the financial part of the prize retains its value over time," Hanna ​Stjarne, executive director of the Nobel ​Foundation, said in a statement.