Nobel Foundation May Cut Prize Money as Markets Drop, SvD Says
The Nobel Foundation, which awards winners a 10 million-krona ($1.5 million) prize, may reduce the amount as a decline in global markets lessens its returns, Svenska Dagbladet reported, citing Executive Director Lars Heikensten.
The foundation has about 3 billion kronor in capital and 120 million kronor in annual expenses, Heikensten said, according to the Stockholm-based newspaper.
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