Nobel Prize Winnings To Be Cut Twenty Percent

Start your day with TPM.
Sign up for the Morning Memo newsletter

CNN has reported that the Nobel prize amounts will be cut by 20 percent this year. The prize winnings, which tallied approximately $1.4 million in 2011, will be reduced to approximately $1.1 million in 2012.

The cuts were implemented to preserve the Nobel Foundation’s long-term capital. Lars Heikensten, executive director of the Nobel Foundation, released a statement saying, “The Nobel Foundation is responsible for ensuring that the prize sum can be maintained at a high level in the long term. We have made the assessment that it is important to implement necessary measures in good time.”

Latest Livewire
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: