RICARDO'S BUSINESS || Nobel Prize Investment Fund

With AustralianProfessor Brian Schmidt’s Nobel Prize for Physics win overnight, it got mewondering where does his shared $1.5m prize money come from?

As part of Alfred Nobel's will, he left most of his $4.7m estate in 1896 to be invested in a fund in safe securities with the income from the investments to be "distributed annually in the form of prizes to those who during the preceding year have conferred the greatest benefit on mankind."

As the market grew, so too did that $4.7m investment, and the prize money.