How Do Nobel Prize Recipients Spend Their Winnings?

The first of six 2024 Nobel Prizes was announced yesterday (Oct. 7), with a pair of U.S. scientists receiving the prize for physiology or medicine. Victor Ambros and Gary Ruvkun, professors at the University of Massachusetts Medical School and Harvard Medical School, respectively, were given the award for their discovery of microRNA, a class of tiny RNA molecules that plays a crucial role in gene regulation.

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The announcement will kick off a week of Nobel Prizes given for physics, chemistry, peace, literature and economics. For more than a century, the awards have been held annually to recognize those making significant contributions towards the benefit of humanity—and offer them large sums of cash in return for their achievements. Established in 1895 by the will of Alfred Nobel and funded by an estate valued at $2.2 billion ($212 million) in today’s money, the Nobel Prizes will dole out 11 million Swedish Kroner ($1 million) to each winner this year, with multiple recipients of singular awards splitting the winnings.

It doesn’t end there. Winners additionally receive a gold Nobel Prize medal, alongside the external financial benefits that........

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