In many ways, the Nobel Foundation is similar to an investment company, in that it invests Nobel's money to create a solid funding base for the prizes and the administrative activities.The Nobel Foundation is exempt from all taxes in Sweden (since 1946) and from investment taxes in the United States (since 1953).
In accordance with Nobel's will, the primary task of the Foundation is to manage the fortune Nobel left.
Nobel amassed a fortune during his lifetime, with most of his wealth from his 355 inventions, of which dynamite is the most famous.
In 1888, Nobel was astonished to read his own obituary, titled The merchant of death is dead, in a French newspaper.
(As of 2017 Medals made before 1980 were struck in 23 carat gold, and later in 18 carat green gold plated with a 24 carat gold coating.
The prize is not awarded posthumously; however, if a person is awarded a prize and dies before receiving it, the prize may still be presented.