How did Alfred Nobel make his money?
- 1 decade agoFavorite Answer
I don't know what that has to do with Books and Authors, but I will answer it anyway. <grins>
In trying to make the explosive, nitroglycerin, safer to handle, he invented dynamite, blasting caps, and later, blasting gelatin, which was used commonly in mining and by the military of many countries, etc. He got rich from it.
His brother Emil was working in a plant making nitroglycerin and was killed in an explosion. Alfred wanted to do something that would make the handling of nitroglycerin safer, so other people would not lose their loved ones.
He found a compound that could be added to nitroglycerin to make it safer to handle. He patented that process, calling it dynamite and was on his way to becoming rich... <g>
The Nobel Peace Prize, incidentally, only uses part of the Interest on his fortune, so that main lump sum is still there, and is actually increasing in value. The prize should be able to continue indefinitely at the current rate.
- 1 decade ago
He discovered and patented dynamite, so received money each time dynamite was bought. He was a good businessman (his company Nobel still exists as AkzoNobel). When he died he had 355 patents.
He also took over Bofors, a metal company, and made them into a major weapons manufacturer.
His wealth came from destruction (dynamite and weapons) but he left his money to do good. He left 31 million Swedish kronor ($250 million in todays terms) for the Nobel Prizes. They now have $560 million US Dollars.Source(s): http://nobelprize.org/alfred_nobel/biographical/ar... http://en.wikipedia.org/wiki/Alfred_Nobel
- nariLv 43 years ago
you have a poor be responsive to-how of history. Alfred Nobel invented dynamite. He was hoping it would be used for non violent purposes, like demolition of dilapidated homes, yet new it would be exploited for conflict. He invented the Nobel Peace Prize to sell peace. He by no potential had the style of ridiculous theory that dynamite may be an explosive so poor that it would make conflict unthinkable. Neither did the boys who invented the gadget gun, the plane, or the atom bomb.
- 1 decade ago
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- 5 years ago