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The executors of his will were Ragnar Sohlman and Rudolf Lilljequist who formed the Nobel Foundation to take care of Nobel's fortune and organize the prizes. Although Nobel's will established the prizes, his plan was incomplete and, because of various other hurdles, it took five years before the Nobel Foundation could be established and the first prizes could be awarded on 10 December 1901 to, among others, Wilhelm Conrad Röntgen. As of 31 December 2020, the assets controlled by the Nobel Foundation amounted to 5.176 billion Swedish "kronor" (approx. US$631.61 million as of 31 December 2020).