Nobel Prize foundation finances

[MichaelB]

According to the FT, the Nobel Foundation is paying Swedish Kronar (SEK) 10 million per prize, 6 prizes total, and have assets of 3.1 billion SEK. FT.com / Global Economy - Financial crisis gives Nobel Foundation no peace

It also says the portfolio is “about 1/3 below 1999 levels” even though they have frozen the prize amount for a decade. The 2009 financials show, in addition to 60m SEK of prize money another 77M SEK (ouch) in administrative expense. That equates to a withdrawal rate (YE 09) of 4.4%. The Nobel Foundation - Income Statement

I suspect the majority of forum members in withdrawal mode over that same period are in better financial shape. That is, either their withdrawal amounts have kept with inflation or their portfolio balances are higher. Maybe we should offer some advice.

 

[clifp]

LOL.

Unfortunately the Nobel prize for economics is funded separately so they probably wouldn't give us a Nobel prize for helping them out of their fiscal problems.


In truth I don't think they've done a paid job paying out lot of money for more than 100 years.

 

[LOL!]

Administrative expenses probably include flying laureates and their families to Stockholm for a few days, etc. Plus they have to pay for all the members of the selection committees to meet occasionally.