The globally renowned International Booker Prize is set to be renamed the Bukhman International Booker Prize beginning in 2027.
International Booker Prize Renamed as Bukhman International Booker Prize
The change follows a decade-long funding agreement between the Booker Prize Foundation and Bukhman Philanthropies. Under this partnership, the philanthropic organization will support the award for the next ten years, ensuring greater financial backing for translated literature.
Prize Money Doubled
One of the most significant announcements is the increase in the winner’s prize money. The award amount will rise from £50,000 to £100,000, which is approximately ₹1.28 crore. The prize will continue to be divided equally between the winning author and the translator, recognizing the crucial role played by translators in bringing world literature to English readers. Shortlisted books will continue to receive £5,000, shared equally between authors and translators.
Prize money increased
From 2027
Previous winner’s award
£50,000 (≈ ₹64 lakh)
New winner’s award
£100,000 (≈ ₹1.28 crore)
How it is shared
50% author + 50% translator(s)
Shortlisted title award
£5,000 each title
Who Are the Bukhmans?
Bukhman Philanthropies was established by entrepreneur Dmitry Bukhman and his wife Daria Bukhman. Dmitry Bukhman is widely known as the co-founder of the mobile gaming company Playrix, famous for games such as Fishdom and Homescapes. Their foundation has increasingly focused on literature, education, and social welfare initiatives.
A Brief History of the Prize
The award has undergone several transformations since its inception:
| Year | Development |
|---|---|
| 2005 | Launched as the Man Booker International Prize. |
| 2016 | Converted into an annual prize for a single work of translated fiction. |
| 2019 | Renamed the International Booker Prize. |
| 2027 | Will become the Bukhman International Booker Prize. |
Importance of the Award
The International Booker Prize is considered one of the world’s most prestigious awards for translated fiction. It honors books originally written in languages other than English and translated into English for publication in the United Kingdom or Ireland. The prize has played a major role in increasing global interest in translated literature and has helped many international authors reach wider audiences.
Key Highlights
- The International Booker Prize will be renamed the Bukhman International Booker Prize from 2027.
- Bukhman Philanthropies has committed to funding the award for 10 years.
- Winner’s prize money will increase from £50,000 to £100,000 (about ₹1.28 crore).
- The prize amount will continue to be shared equally between the author and translator.
- Shortlisted entries will continue to receive £5,000 each.
- The first winner under the new name will be announced in May 2027.
