(Photo: The Atlantic)

Prize money will increase to 10 million crowns this year, daily Dagens Industri reported. The head of the Nobel Foundation, Lars Heikensten, told the paper that the organization’s costs and capital are in a stable relation in a completely different way than previously.

Dynamite inventor Alfred Nobel left around 31 million crowns - about 1.8 billion crowns in today’s money according to the Foundation - to fund the prizes, which have been awarded since 1901.

The prize amount has varied over time.