• All Share : 49478.5696
    DOWN -0.18%
    Top 40 : 2928.81
    DOWN -0.54%
    Financial 15 : 15483.0336
    DOWN -0.75%
    Industrial 25 : 62127.3877
    UP 0.03%

  • ZAR/USD : 11.6089
    DOWN -0.27%
    ZAR/GBP : 18.1111
    UP 0.03%
    ZAR/EUR : 14.1884
    DOWN -0.03%
    ZAR/JPY : 0.0966
    UP 0.31%
    ZAR/AUD : 9.4518
    UP 0.09%

  • Gold US$/oz : 1177.03
    UNCHANGED0.00%
    Platinum US$/oz : 1192
    UNCHANGED0.00%
    Silver US$/oz : 15.74
    UNCHANGED0.00%
    Palladium US$/oz : 813.55
    UNCHANGED0.00%
    Brent Crude : 61.31
    UNCHANGED0.00%

  • All data is delayed by 15 min. Data supplied by Profile Data
    Hover cursor over this ticker to pause.

Thu Dec 25 23:23:05 SAST 2014

Prize money can go to a noble cause, or a croquet lawn

Sapa-AFP | 10 October, 2013 01:05
Michael Levitt. File photo
Image by: STEPHEN LAM / REUTERS

Nobel laureates sometimes display as much ingenuity in spending their prize money as they did on the work that won them the award.

After winning the Nobel Prize for Medicine in 1993, Richard Roberts installed a croquet lawn in front of his house. His co-winner, Phillip Sharp, decided to splash out on a 100-year-old federal style house.

The prize money is eight million Swedish krona ( R12.5-million ) .

Lars Heikensten, executive director of the Nobel Foundation, said there were no obvious shopping trends among laureates.

"I think it depends a lot on which country they come from; their personal finances," he said.

New laureates are inundated with offers to attend meetings, lectures and inaugurations .

"I've not managed to think about the prize money. There have been great demands on my time," said Serge Haroche, joint winner of the 2012 physics prize.

For winners of the peace prize the decision is often clear-cut.

Many, like US President Barack Obama in 2009 and the European Union in 2012, donate to charities.

Bangladeshi economist Muhammad Yunus, who founded the Grameen Bank, which gives loans to lift people out of poverty, said he would fund an eye hospital and a business making affordable food for the poor with his 2006 prize money.

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.