Alfred Nobel, the Swedish inventor best known for the invention of dynamite, gathered at the Swedish–Norwegian Club in Paris to formalize a decision that would change the landscape of recognition for excellence in various fields. On this significant day, he penned his will, designating that the majority of his fortune would be used to create the Nobel Prizes. This moment reflected a profound shift in Nobel’s perspective on his contributions to society; while his inventions had brought him wealth, he became increasingly aware of their potential for destruction. The will specified that the prizes be awarded in Peace, Literature, Physics, Chemistry, and Medicine, mirroring Nobel’s values and aspirations for a better world. The will included provisions for how the prizes would be administered, marking a commitment to the advancement of knowledge and societal welfare.

The decision to establish the Nobel Prizes came after Nobel read an obituary prematurely published about him, which labeled him as the 'merchant of death' due to his invention of dynamite. This experience prompted deep reflection on how he would be remembered. By establishing the prizes, Nobel sought to ensure that his legacy would be associated with positive contributions, particularly in realms that could foster peace and enlightenment rather than conflict and destruction. The funds were to be managed through a foundation, ensuring that the awards would continue even after his death, which would occur shortly thereafter in 1896. Thus, the creation of the Nobel Prizes not only served as a personal redemption for Nobel but also laid the foundation for an enduring global tradition of honoring exemplary work across disciplines.