
Every year since 1901 the Nobel Prize has been awarded for achievements in physics, chemistry, physiology or medicine, literature and for peace. The Nobel Prize is an international award administered by the Nobel Foundation in Stockholm, Sweden. In 1968, Sveriges Riksbank established The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize. Each prize consists of a medal, personal diploma, and a cash award.

Since 1901, the Nobel Prize has been honoring men and women from all corners of the globe for outstanding achievements in physics, chemistry, medicine, literature, and for work in peace. The foundations for the prize were laid in 1895 when Alfred Nobel wrote his last will, leaving much of his wealth to the establishment of the Nobel Prize. But who was Alfred Nobel?
Alfred Nobel was born in Stockholm, Sweden on October 21st, 1833. His father Immanuel Nobel was an engineer, and worked in the construction of buildings and bridges. He also experimented with different methods of blasting rocks.
Immanuel was forced into bankruptcy; he then left his family in 1837 to start a new career in Finland and Russia. In 1842 Immanuel was able to bring his family to St. Petersburg where they received a first class education.
Alfred Nobel found interests in chemistry and physics. However his primary interests were in literature and poetry. His father disliked this and sent him off for training in chemical engineering.
Alfred soon became interested with nitroglycerine because it was so unstable; it exploded under unpredictable amounts of heat and pressure. He later experimented with different additives to make nitroglycerine more stable.
In 1867 Alfred patented his material under the name dynamite. This invention along with blasting caps drastically improved many forms of construction from rock blasting to digging canals. He spent much of his time traveling around the world selling his inventions. By the time of his death Alfred had 355 patents including artificial silk, synthetic rubber and leather, along with many other things.Alfred Nobel died in San Remo, Italy, on December 10th, 1896. In his will Alfred signed over his estate and assets to the future winners of the Nobel Prize.

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