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Alfred Bernhard Nobel was born the 21th of October 1833 in Stockholm, Sweden. When he was 8 years old his family moved to St. Petersburg in Russia, where his father opened a mechanical engineering workshop, producing torpedoes. Alfred early developed an interest for science, especially chemistry, but he never completed any higher education.
After moving home to Sweden in 1863, Alfred concentrated on developing different kinds of explosives. In 1867 he obtaiend a patent on a special type of explosive, which he named "dynamite". It became extremely popular within the building and construction industry, and strongly to Nobels great wealth. He later obtained a long list of patents, 355 in all, and went on to become one of Europe's wealthiest men.
Alfred Nobel made big money on explosives which in some cases have been adopted by the war industry. But at the same time he had a keen interest in social quaestions, and was known to have radical views on many contemporary social issues. After his death in San Remo, Italy the 10th of December 1896, it was known that in his will he had left the bulk of his considerable estate to a fund. The purpose of the fund was to annually award 5 prices to persons and organizations whoms work had been to the greatest benefit of mankind.
While the awards for physics, chemistry, literature, physiology /medicine and economy (the latter has been added later) are being presented in Sweden, Nobel made it clear that the price for peace work was to be presented in Norway.
The Nobel Peace Prize has been presented every year since 1901, with a few exceptions (especially during World War I and II). On some occations the price has been split between two or more winners, so before the 2007 presentation there is 116 winners in all. In 2006 the Peace Prize amounted to 10 million Swedish Kroner.