Nobel Prize

Alfred Nobel, in his will, established a fund to award an annual award for recent important discoveries, which became known as the Nobel Prize. Nobel was born in 1833 in Stockholm, Sweden, to a capitalist family known for its energy, ambition, creativity, and entrepreneurship. His creative successes in chemistry and business made him famous, though they were shadowed by his reclusive lifestyle. In this entry, the history of Nobel and the Nobel Prize is explored with respect to its creative visionary. The reader will also learn about the myriad ways that theoretical and practical creativity was employed to amass a fortune as well as the unique notoriety thrust onto prizewinners.