- Named after Alfred Nobel, Swedish chemist and inventor of dynamite.
- First awarded in 1901, five years after Alfred Nobel's death.
- Prizes first awarded in five subjects: chemistry, physics, physiology or medicine, literature, and peace.
- Sixth subject, economics, added in 1969.
- Prizes can only be awarded to individuals, except the Peace Prize.
- Each award can be given to a maximum of three people per year.
- Money from Nobel's estate went into a fund managed by the Nobel Foundation. The interest from the fund constitutes the monetary prize each year.
- Each prize constitutes a gold medal, a diploma, and a sum of money.
- If there are multiple winners of one subject, the award money is split equally among the winners.
- The Literature and Peace Prizes are very controversial because the award criteria is considered subjective.
- Each year there are 100 to 250 nominees for each prize.
- If someone nominated himself/herself, he/she would automatically be disqualified.
- Someone cannot be nominated posthumously. Yet, if someone was alive when nominated but died before the award was given, they may be awarded posthumously.
- Prizes must be awarded at least once every 5-year period.
- A few prize winners have declined the award.
