Alfred Nobel was an inventor, entrepreneur, scientist and businessman who also wrote poetry and drama, known for inventing dynamite. He signed his last will in Paris on November 27, 1895, leaving much of his wealth to the establishment of the prize. He specified that the bulk of his fortune should be divided into five parts and to be used for prizes in physics, chemistry, physiology or medicine, literature and peace to “those who, during the preceding year, shall have conferred the greatest benefit to humankind.”

Since 1901, the Nobel Prize has been honouring men and women from around the world for outstanding achievements in physics, chemistry, physiology or medicine, literature, and for work in peace. Economic Sciences was later on added to the list in the memory of Alfred Nobel.

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