Alfred Bernhard Nobel, a Swedish inventor and philanthropist, bequeathed most of his vast fortune to a trust that he designated as a fund from which annual prizes could be awarded to the individuals and organizations that had achieved through invention or discovery that which would have the greatest benefit to humanity in a particular year. According to the legend, Nobel's death had been erroneously reported in a newspaper, and the focus of the obituary was the fact that Nobel had invented dynamite. He rewrote his will in 1895, thereby establishing, with the original amount of nine million dollars, the Nobel Foundation as the legal owner and administering agent of the funds, and instituting the prizes that are named after him. Statutes to govern the awarding of the prizes were written, along with guidelines for operating procedures. Five years after Nobel's death, the first five prizes, worth about forty thousand dollars each, were to be
awarded.
Originally the five classifications for outstanding contributions designated in Nobel's will included chemistry, physics, physiology or medicine, literature, and international peace. These prizes have been administered continually by the Nobel Foundation in Stockholm since they were first awarded in 1901. In 1969, a sixth prize, for accomplishments in the field of economics and endowed by the Central Bank of Sweden, was added. Candidates for the prizes must be nominated in writing by February 1 of each year by a qualified and recognized authority in each of the fields of competition. Recipients in physics, chemistry, and economics are selected by the Royal Swedish Academy, whereas recipients in peace are chosen by the Norwegian Nobel Committee appointed by Norway's parliament. With the King of Sweden officiating, the prizes are usually presented in Stockholm on December 10, the anniversary of Nobel's death. The value, fame, and prestige of the Nobel Prizes have continued to grow. Today the prize includes a medal, a diploma, and a cash award of about one million dollars.
Why were the prizes named for Alfred Bernhard Nobel?
A. He serves as chairman of the committee to choose the recipients of the prizes.
B. He left money in his will to establish a fund for the prizes.
C. He won the first Nobel Prize for his work in philanthropy.
D. He deserved to determine what he wants
E. He is now living in Sweden.
