Obama Will Donate All 1.4 Million of Prize Money To Charity

President Barack Obama will donate the $1.4 million cash award that comes with the Nobel Peace Prize to charity. White House spokesman Robert Gibbs says it’s likely that more than one charity will share the windfall. But Obama is definitely donating the entire Nobel prize of 1.4 million dollars to charity, according to a news report on CNN.

In his acceptance speech a the White House Rose Garden in Washington D.C. on October 9, 2009; Obama stated that he was surprised and humbled at being awarded the Nobel Peace Price. Obama said that he did not feel he deserved to stand in the company of the winners that he had long admired and who had inspired him.

Obama said that he accepted the award as a call to action, mentioning nuclear arms, energy resources and quality of life issues facing people around the world. Obama stated that no one person or one nation call solve the serious problems that face the world today.

The Nobel Peace Prize comes with a monetary award of 1.4 million dollars. Barack Obama is not keeping any of the money. Instead, he is donating the cash to various charities. The charities have not been selected or announced at this point.

Whichever charities Obama selects, the contribution of $1.4 million shows a level of commitment to community spirit by the U.S. President.

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