The Nobel Prize Awarding Institution, the Royal Swedish Academy of Sciences, decided to reserve the Nobel Prize in Physics in 1921, and therefore no Physics Prize was awarded that year. According to the statutes, a reserved prize can be awarded the year after, and Albert Einstein was awarded the 1921 Nobel Prize in Physics in 1922.
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The photoelectric effect, for which he won his Nobel Prize, and the Theory of General Relativity.
When Albert Einstein won the Nobel Prize for Physics in 1921, he was awarded the sum of 121,573 Swedish Krona. This sum translates to 2,285,572 Swedish Krona in 2007, which is roughly 331,000 U.S. Dollars. Please see the related links from the Nobel Prize site for the basis of calculations.
Albert Einstein is famous for his knowledge in physics. More specifically, He studied theoretical physics. He received the Nobel prize in physics. He invented the theory of relativity and was praised for that.
He failed math in high school but later went on to postulate the theory of relativity, and he got the Nobel prize for his work on the photoelectric effect.