Alfred established the Nobel Prizes through his will

In 1896, at his estate in San Remo, Italy, Nobel passed away from a cerebral hemorrhage after developing angina pectoris 1895. At the time of his passing, more than 90 factories producing explosives and ammunition made up his global economic empire. His will, which was revealed to his family, friends, and the public after it was lodged at a bank in Stockholm on November 27, 1895, after it was written in Paris, contained a major surprise. He had always been generous in his humanitarian and scientific philanthropies, and he left the majority of his wealth in trust to start the Nobel Prizes, which have since become the most prestigious worldwide honors.

Nobel worried about how he would be remembered after his death after reading his obituary. On November 27, 1895, Alfred Nobel penned his last will, leaving the establishment of the five Nobel Prizes for outstanding contributions to physics, chemistry, literature, and medicine as well as for promoting world peace, 94 percent of his total assets, or 31,225,000 Swedish kronor (250 million dollars in 2008).