When was the Nobel Prize established?

When was the Nobel Prize established?

Alfred Nobel was a highly successful inventor and industrialist, but an unsuccessful novelist and playwright. He invented dynamite, which had tremendous destructive power.

Alfred Nobel happened to read his own obituary in a newspaper, which described him, as a ‘merchant of death’. Nobel was deeply hurt by this remark. He set aside nearly 94 percent of his immense wealth to create awards for persons for outstanding and path breaking works in Physics, Chemistry, medicine, literature and peacemaking. Nobel died in 1896. The first Nobel prizes were conferred in 1901 by the King of Sweden.

In 1968, the Central Bank of Sweden instituted a prize for Economics in memory of Alfred Nobel. Today the value of the Nobel Prize is about a million dollars. It is without doubt the most coveted academic prize in the whole world.

Who invented dynamite?

Who invented dynamite?

Alfred Nobel, Swedish industrialist, engineer and inventor, built bridges and buildings in Stockholm. His construction work inspired Nobel to research new methods of blasting rock. In 1863, Alfred Nobel invented the Nobel paten detonator of blasting cap for detonating nitroglycerin and dynamite.

The Nobel patent detonator used a strong shock rather than heat combustion to ignite the explosives. In 1865, the Nobel Company built the first factory that made nitroglycerin and later dynamite.

One advantage of dynamite over nitroglycerin was that it could be cylinder-shaped for insertion into the drilling holes used for mining.