Earlier today, the 2017 Nobel Peace Prize winner was announced for the entire world to celebrate. This long-lasting tradition began when wealthy Swedish inventor and entrepreneur Alfred Nobel died in 1896. The reading of his will shocked the world because he dedicated his colossal fortune to “prizes to those who, during the preceding year, shall have conferred the greatest benefit to mankind.”
More than a century later, the Nobel Prize is considered the most prestigious award on the planet. It still distributes equal financial prizes across the five categories outlined in Alfred Nobel’s original will: physics, chemistry, medicine, literature and peace. Here’s a look at what winners received for 12 decades of Nobel Prize awards, including the most recent winner announced on Oct. 6, 2017. Because inflation diminishes the buying power of currency over time, you’ll see the amount of the actual prize the winner received — and how much the prize would be worth today.