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Nobel Prizes are five separate prizes awarded to "those who, during the preceding year, have conferred the greatest benefit to humankind," as established by the 1895 will of Swedish chemist, engineer, and industrialist Alfred Nobel, in the year before he died. Prizes were first awarded in 1901 by the Nobel Foundation. Nobel's will indicated that the awards should be granted in the fields of Physics, Chemistry, Physiology or Medicine, Literature, and Peace. A sixth prize for Economic Sciences, endowed by Sweden's central bank, Sveriges Riksbank, and first presented in 1969, is also frequently included, as it is also administered by the Nobel Foundation. The Nobel Prizes are widely regarded as the most prestigious awards available in their respective fields.