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Stockholm: The world's most prestigious and highly anticipated Nobel Prizes will be announced next week. These awards are given for outstanding achievements in the fields of medicine, physics, chemistry, literature, economics, and peace and are considered among the world's most prestigious honors. Ahead of the winners' announcement next week, all eyes are on US President Donald Trump. Trump has declared himself a strong contender for the Nobel Prize, claiming to have prevented conflicts between several countries. Despite being nominated multiple times, Trump remains unrewarded. US President Donald Trump has been nominated for the 2025 Nobel Prize by countries like Pakistan and Armenia. Trump has been nominated for the award several times before, but has yet to receive it. Trump has been nominated for the Nobel Peace Prize several times since 2018. In December, a Republican lawmaker even proposed him for brokering the Abraham Accords, which normalized relations between Israel and some Arab countries. What is the history of the Nobel Prizes? The Nobel Prizes were initiated by 19th-century Swedish businessman and scientist Alfred Nobel. He held over 300 patents, but his greatest fame stemmed from his invention of dynamite, which he created by combining nitroglycerin with a stabilizing compound. This explosive became popular in the mining, construction, and arms industries and made Nobel very wealthy. In the final years of his life, Nobel decided to donate his wealth to fund annual awards for contributions to humanity. The first Nobel Prizes were awarded in 1901 in the fields of medicine, physics, chemistry, literature, and peace. In 1968, the Swedish Central Bank established a sixth prize, for economics, which is not technically considered a Nobel Prize but is awarded alongside other prizes. How are Nobel Prizes Nominated? The relevant committees for the Nobel Prizes do not announce nominations, and decisions are kept confidential for 50 years. A person cannot nominate themselves, but others can nominate them multiple times. Each prize committee works differently, but all aim to honor Nobel's wishes, namely, to select winners who have provided the greatest benefit to humanity. The Peace Prize Committee regularly awards the previous year's achievements and is awarded in Oslo, Norway. Other science prizes are awarded in Stockholm, where winners often take decades to receive recognition to ensure credibility. This Year's Program This year's Nobel Prize ceremonies begin on Monday. The Medicine Prize will be announced at the Karolinska Institute in Stockholm. This will be followed by the announcements of the Physics Prize (Tuesday), Chemistry Prize (Wednesday), Literature Prize (Thursday), Peace Prize (Friday), and Economic Sciences Prize (October 13). When will the awards be awarded after the announcement? The winners will be announced in October. The awards will then be presented on December 10, the anniversary of Alfred Nobel's death. Each prize carries a sum of approximately 11 million Swedish kronor (approximately US$1.2 million), an 18-carat gold medal and a citation. Each prize can be shared between up to three winners.