Alfred Nobel was still alive when the newspapers reported his death, and he was upset because the headlines said simply ‘The inventor of dynamite died.’ He complained and they apologized to him. Thereupon he started sharing his wealth with those who were successful in various fields, philanthropy, medicine, science, literature, world peace, humanitarian acts, etc. And he set up prizes to be given every year for those who excelled in their respective field of work. And so the Nobel Prize was instituted in Sweden, and when he actually did die, they all remembered him for his philanthropic masterpiece that every year honors those who excel in the areas of Physics, Chemistry, Medicine, Literature, Economics and Peace. Nobel bequeathed 94% of his total assets, 31 million SEK (c. US$186 million, €150 million in 2008), to establish the six Nobel Prizes.
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