The Nobel Prizes were established by the last will and testament of Swedish chemist and inventor Alfred Nobel.
Each October, Nobel committees distribute awards in Chemistry, Medicine, Physics, Literature, Economics and, lastly, international diplomacy, the "Nobel Peace Prize."
The prize itself consists of a gold medal, a diploma, and a monetary grant of about $1.5 million.
References
Fast Facts
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Fact:
Established in 1901
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2007 Ceremony
October 8-15
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Winners known as "Nobel Laureates"
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Nobel is the inventor of dynamite
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Peace Prize ceremony held at Oslo City Hall
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Other ceremonies held at Stockholm Concert Hall
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Nomination records sealed for 50 years
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Mahatma Gandhi nominated five times, never won
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Literature prize honors lifetime body of work
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34 female Nobel laureates out of 731 total prizes awarded (2006)
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Youngest Nobel Laureate
Lawrence Bragg, 25
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Oldest Nobel Laureate
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Posthumous nominations not permitted
