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Alfred Nobel's brother passed away in 1888, but his death notice was instead published in a newspaper. Because of his disappointment in what he had read, Alfred decided to use his wealth to honor humanity and created the Nobel Prize.

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In 1888, Alfred Nobel experienced a profound and unsettling moment that would ultimately reshape his legacy. When his brother Ludvig Nobel passed away, a French newspaper mistakenly published Alfred's obituary instead. The obituary was harshly critical, condemning Alfred for his invention of dynamite, labeling him a "merchant of death" who had become wealthy by finding more efficient ways to kill people. This premature death notice provided Nobel a rare opportunity to see how he would be remembered and to reflect deeply on his life’s impact.

Shocked and disturbed by this portrayal, Nobel was driven to reconsider his life's work and how he would be remembered after his death. This moment of introspection led him to fundamentally change the disposition of his immense fortune. Nobel, who had never married or had children, saw in this a chance to leave a different kind of legacy. Determined to contribute something positive to humanity and alter how he would be remembered, Nobel decided to establish the Nobel Prizes through his last will and testament.

In his will, he allocated the bulk of his estate to establish prizes in Physics, Chemistry, Physiology or Medicine, Literature, and Peace (an Economics prize was added later in 1968 by Sweden's central bank). The awards were intended to honor those who conferred the "greatest benefit on mankind" in these fields. The Peace Prize, in particular, was a reflection of his desires for a more peaceful world. Nobel specified that it should be awarded to the individual or organization that had done the most or best work for fraternity between nations, for the abolition or reduction of standing armies, and for the holding and promotion of peace congresses.

Since the first prizes were awarded in 1901, the Nobel Prizes have grown to be regarded as the most prestigious awards available in their respective fields. The annual announcement and award ceremonies draw global attention and have served to commemorate and encourage ongoing contributions to humanity. Thus, spurred by the reading of his own misreported demise, Alfred Nobel was able to redefine his legacy and create a lasting positive impact on the world—an impact that continues to resonate more than a century later. Through the Nobel Prizes, Nobel changed the narrative of his life from one of destruction to one of immeasurable contribution to mankind's betterment.