Bukhman Philanthropies has committed to providing £1.4 million annually over the next decade “to enable the Booker Prize Foundation to engage more readers with the world’s best translated fiction and to support the translated fiction ecosystem.” 

"Prize money for the winning book double from £50,000 to £100,000, to be split equally between the author and translator(s).


Shortlisted titles will continue to be awarded a prize of £5,000 (also split between author and translator).


 


The announcement comes as the International Booker Prize, which has established itself as the world’s most influential award for translated fiction, celebrates its 10th year. Since its launch in 2016, officials said the prize has celebrated 11 winners writing in 11 different languages and driven a 31% increase in sales of translated fiction in the U.K.


 


 


Daria Bukhman


 


The move comes after Bukhman Philanthropies supported the prize in 2026. Furthermore, in recognition of the decade-long funding commitment, the prize will be named the Bukhman International Booker Prize. Under the arrangement, officials said Bukhman has committed to providing £1.4 million annually for the International Booker Prize, “to enable the Booker Prize Foundation to engage more readers with the world’s best translated fiction and to support the translated fiction ecosystem” over the next decade.


 


“Some of the books that deeply influenced me growing up were translated fiction. It was through these works that I first understood the world is larger than any single perspective,” said Daria Bukhman, Co-Founder and Chair of Bukhman Philanthropies, in a statement. “Supporting this prize over the next decade is deeply personal to me. In a world increasingly shaped by speed, distraction, and massive advancement in AI, translated fiction asks us to slow down, to listen, and to understand lives unlike our own.”


 


The additional funding will also enable the Booker Prize Foundation to continue gifting 500 sets of each year’s shortlist to libraries across the U.K. through The Reading Agency; “improve access” to the nominated books through the Booker Prize Foundation and National Literacy Trust’s prison reading program Books Unlocked; and support Braille and audio editions of the winning International Booker Prize books.


 


In addition, officials said the prize will develop “new initiatives to support translators in building their craft, forging meaningful connections, and bringing a wider range of international works to new and younger audiences.”


 


“Bukhman Philanthropies’ commitment has the power to reshape not only the future of the prize, but the landscape of literature itself, elevating writers and translators whose stories connect us more deeply to one another across cultures, borders, and experiences,” said Gaby Wood, Chief Executive of the Booker Prize Foundation, in a statement. “As we look towards the next decade of the prize, we do so with a deep sense of responsibility and hope.”


 


Prize officials said Crankstart, the charitable foundation of Sir Michael Moritz KBE and Harriet Heyman that provides academic scholarships to low-income students, and which has supported Booker Prize Foundation’s work since 2019, will continue to fund the foundation’s work. (For more information on how the Booker Prize Foundation is funded see here).


 


2027 Judges Announced


In addition to the funding news, the International Booker Prize this week announced the judges for the Bukhman International Booker Prize 2027.


 


 


The 2027 Bukhman International Booker Prize judging panel (from left): Caleb Azumah Nelson, Olga Ravn, Katie Kitamura, Patrick McGuinness, Tessa Thompson.


 


The panel includes: Booker Prize-shortlisted author Katie Kitamura as Chair; Booker Prize-longlisted writer, translator and Professor of French and Comparative Literature Patrick McGuinness; filmmaker and Sunday Times bestselling author Caleb Azumah Nelson; translator and International Booker Prize-shortlisted novelist Olga Ravn; and award-winning actor and producer Tessa Thompson.


 


The award seeks long-form fiction or collections of short stories translated into English and published in the U.K. and/or Ireland between May 1, 2026, and April 30, 2027. A longlist of of 12 or 13 books will be announced on Tuesday, 16 March 2027 with a shortlist of six books to follow on April 15, 2027. The winning book will then be announced at a ceremony in May 2027. Rules and submission guidelines are available here.


 


“Translation represents a dialogue between two minds. The Bukhman International Booker Prize offers readers the opportunity to experience the profound encounter between author and translator. As a prize, it is exemplary in the way it recognizes the work of both participants. The celebration and support of this intrinsically human collaboration feels particularly vital right now.”


 


About the Author


Andrew Albanese


Andrew Richard Albanese is the editor-in-chief of 'Publishing Perspectives' and founder and editor of 'Words & Money,' a media site that centers the role of libraries in the 21st Century publishing business. A veteran library and publishing industry reporter, he has previously worked for 'Publishers Weekly' and 'Library Journal,' where he was widely known for his in-depth coverage of the Google Books and Apple E-book price-fixing cases, developments in the digital library market, book bans and freedom to read issues, the open access movement, and copyright issues. He is a former associate editor at Oxford University Press, and the author of 'The Battle of $9.99: How Apple, Amazon, and the Big Six Publishers Changed the E-Book Business Overnight.'"


https://publishingperspectives.com/2026/07/booker-prize-foundation-adds-new-funding-partner-will-double-top-prize-money/


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