The Nobel Prizes are five separate prizes that, according to Alfred Nobel's will of 1895, are awarded to "those who, during the preceding year, have conferred the greatest benefit to humankind." Alfred Nobel was a Swedish chemist, engineer, and industrialist most famously known for the invention of dynamite. He died in 1896. In his will, he bequeathed all of his "remaining realisable assets" to be used to establish five prizes which became known as "Nobel Prizes." Nobel Prizes were first awarded in 1901. Nobel Prizes are awarded in the fields of Physics, Chemistry, Physiology or Medicine, Literature, and Peace. In 1968, Sveriges Riksbank funded the establishment of the Prize in Economic Sciences in Memory of Alfred Nobel, to also be administered by the Nobel Foundation. Nobel Prizes are widely regarded as the most prestigious awards available in their respective fields. The prize ceremonies take place annually. Each recipient receives a gold medal, a diploma, and a monetary award.