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== Background == [[File:Alfred Nobel3.jpg|thumb|[[Alfred Nobel]] (1833–1896), who established the [[Nobel Prize|Nobel Prizes]].]] [[Alfred Nobel]], in his last will and testament, stated that his wealth should be used to create a series of prizes for those who confer the "greatest benefit on mankind" in the fields of [[physics]], [[chemistry]], [[peace]], [[physiology]] or medicine, and literature.<ref name="BBCHistory">{{cite web |url=https://www.bbc.co.uk/history/historic_figures/nobel_alfred.shtml |title=History – Historic Figures: Alfred Nobel (1833–1896) |publisher=BBC |access-date=3 May 2015 |archive-date=27 December 2019 |archive-url=https://web.archive.org/web/20191227150003/http://www.bbc.co.uk/history/historic_figures/nobel_alfred.shtml |url-status=live }}</ref> Though Nobel wrote several wills during his lifetime, the last one was written a year before he died and was signed at the Swedish-Norwegian Club in Paris on 27 November 1895.<ref>[[#Sohlman69|Ragnar Sohlman]]: 1983, Page 7</ref><ref>{{cite journal | title=The Nobel Foundation and its Role for Modern Day Science | publisher=Springer-Verlag | journal=Die Naturwissenschaften | date=6 June 1981 | last=von Euler| first=U.S. | volume=68 | issue=6 | pages=277–281 | doi=10.1007/BF01047469 | bibcode=1981NW.....68..277V }}</ref> Nobel bequeathed 94% of his total assets, 31 million [[Swedish krona|Swedish ''kronor'']] (US$2.9 million, or €2.7 million in 2023), to establish and endow the five Nobel Prizes.<ref>{{cite web | url=https://www.nobelprize.org/alfred_nobel/will/will-full.html | title=Nobel's will | publisher=Nobel.org | access-date=4 May 2015 | archive-date=15 August 2018 | archive-url=https://web.archive.org/web/20180815060015/https://www.nobelprize.org/alfred_nobel/will/will-full.html | url-status=live }}</ref> Owing to the level of skepticism surrounding the will, it was not until 26 April 1897 that it was approved by the [[Parliament of Norway|Storting]] (Norwegian Parliament).<ref name="nobelprize1">{{cite web|url=http://nobelprize.org/nobelfoundation/history/lemmel/index.html |title=The Nobel Foundation – History |publisher=Nobelprize.org |access-date=3 May 2015 |url-status=dead |archive-url=https://web.archive.org/web/20100109140259/http://nobelprize.org/nobelfoundation/history/lemmel/index.html |archive-date=9 January 2010 }}</ref><ref name="Levinovitz13">[[#Levinovitz69|Agneta Wallin Levinovitz]]: 2001, Page 13</ref> The executors of his will were [[Ragnar Sohlman]] and Rudolf Lilljequist, who formed the Nobel Foundation to take care of Nobel's fortune and organise the prizes. The members of the Norwegian Nobel Committee who were to award the Peace Prize were appointed soon after the will was approved. The other prize-awarding organisations followed: [[Karolinska Institutet]] on 7 June, the [[Swedish Academy]] on 9 June, and the [[Royal Swedish Academy of Sciences]] on 11 June.<ref>{{cite web |url=http://www.infoplease.com/spot/nobel-prize-history.html |title=Nobel Prize History – |publisher=Infoplease.com |date=13 October 1999 |access-date=3 May 2015 |archive-date=26 April 2013 |archive-url=https://web.archive.org/web/20130426043912/http://www.infoplease.com/spot/nobel-prize-history.html |url-status=live }}</ref><ref>{{cite encyclopedia |author=Encyclopædia Britannica |url=https://www.britannica.com/EBchecked/topic/416852/Nobel-Foundation |title=Nobel Foundation (Scandinavian organisation) – Britannica Online Encyclopedia |encyclopedia=Britannica.com |access-date=3 May 2015 |archive-date=14 May 2013 |archive-url=https://web.archive.org/web/20130514081249/http://www.britannica.com/EBchecked/topic/416852/Nobel-Foundation |url-status=live }}</ref> The Nobel Foundation then established guidelines for awarding the prizes. In 1900, the Nobel Foundation's newly created statutes were promulgated by King [[Oscar II of Sweden|Oscar II]].<ref name="Levinovitz13" /><ref name=BritannicaWill>[https://www.britannica.com/EBchecked/topic/416856/Nobel-Prize "Nobel Prize] {{Webarchive|url=https://web.archive.org/web/20150429230820/https://www.britannica.com/EBchecked/topic/416856/Nobel-Prize |date=29 April 2015 }}" (2007), in ''[[Encyclopædia Britannica]]'', accessed 15 January 2009, from ''Encyclopædia Britannica Online'': {{quote|After Nobel's death, the Nobel Foundation was set up to carry out the provisions of his will and to administer his funds. In his will, he had stipulated that four different institutions—three Swedish and one Norwegian—should award the prizes. From Stockholm, the Royal Swedish Academy of Sciences confers the prizes for physics, chemistry, and economics, the Karolinska Institute confers the prize for physiology or medicine, and the Swedish Academy confers the prize for literature. The Norwegian Nobel Committee based in Oslo confers the prize for peace. The Nobel Foundation is the legal owner and functional administrator of the funds and serves as the joint administrative body of the prize-awarding institutions, but it is not concerned with the prize deliberations or decisions, which rest exclusively with the four institutions. }}</ref> According to Nobel's will, the Royal Swedish Academy of Sciences would award the Prize in Physics.<ref name=BritannicaWill />
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