The Nobel Foundation has decided that the 2023 Nobel Prize will amount to SEK 11 million per prize category. This represents an increase of SEK 1 million per prize category compared to the previous few years.

At the end of 2022, the market value of the Nobel Foundation's total invested capital was SEK 5,799 million. The Foundation has chosen to increase the prize amount because it is financially viable to do so.  

When the first Nobel Prizes were awarded in 1901, the prize amount was SEK 150,782 per category. Over the past fifteen years, the prize amount has been adjusted several times. In 2012, the size of the Nobel Prize was reduced from SEK 10 million to SEK 8 million, at the same time as a broad-based programme to strengthen the Nobel Foundation's finances was initiated. In 2017, the prize amount was increased from SEK 8 million to SEK 9 million. In 2020, the amount was raised to SEK 10 million. In 2023, there will now be a further increase to SEK 11 million per prize category. 

The Nobel Peace Prize for 2023 will be announced at a press conference on Friday 6 October, 11:00 am (CEST), at the Norwegian Nobel Institute, Henrik Ibsens gate 51, Oslo.  Accreditation here