Nobel Prize payout increased by 12.5% to $1.1 million
Ahead of the announcement of 2017 Nobel Prize winners, the Nobel Foundation has increased the award's prize money by 12.5% to 9 million kronor ($1.1 million). This comes after it was reduced to 8 million kronor in 2012 from 10 million kronor. The prize comes from a fund left by its founder, Alfred Nobel, a Swedish scientist who invented dynamite.