The White House has confirmed to CBS News that President Obama will give all of the roughly $1.4 million that comes with the Nobel Peace Prize to charity.
No word yet on which charity or charities will be the beneficiaries.
More CBSNews.com Coverage on Obama Winning the Nobel Peace Prize:
Obama: Nobel Prize a "Call To Action"
Analysis: Nobel Peace Prize Doesn't Help Obama
Obama's Nobel Win: A "Mission Accomplished" Moment?
The Audacity of the Nobel Committee
Nobel Peace Prize an Unprecedented Honor for Obama
Obama's Next "Most Important Speech"
Placing a Wager on Peace
Nobel Peace Prize Shocks Bloggers: "This is Insane"