Nobel Prize Cash and Charity

Alfred Nobel had remarked that his prize should not be given to “a man of action, as he would be tempted to give up work. On the other hand, I would like to help dreamers, as they find it difficult to get on in life.” Norman Angell used his Nobel Prize money as Nobel had intended it to be used.

Norman Angell used a large part of his Nobel Prize money of approximately $41,000 just as Nobel had intended it to be used – to do the work he wanted to do without worrying about money and not do the work he had to do for money.

Angell cleared his debts and bought annuity for security. He used the remaining money to give presents to each person who had helped him in his campaign, donations to peace organizations and for establishing an Emergency Peace Fund. The Emergency Peace Fund would make small grants in the following years to young peace activists. To these activists ten pounds would help deal with an urgent expense.