Bukhman Philanthropies has announced a transformative ten-year, £1.4 million annual funding commitment to the International Booker Prize, a significant investment that will see the prestigious award renamed the Bukhman International Booker Prize. This substantial backing, totalling £14 million over the decade, will not only double the winner’s prize money to £100,000 but also bolster the prize’s crucial work in promoting translated literature, supporting reading initiatives, and fostering translator development programs. The announcement marks a pivotal moment for international literature and the celebration of cross-cultural literary exchange.
The International Booker Prize, which celebrates its tenth anniversary this year, has established itself as a vital platform for showcasing fiction from around the globe to an English-speaking audience. The prize aims to highlight the richness and diversity of global storytelling, recognizing the authors and translators who bridge linguistic and cultural divides. The scale of Bukhman Philanthropies’ commitment signifies a profound belief in the power and importance of translated works in an increasingly interconnected world.
Daria Bukhman, co-founder and chair of Bukhman Philanthropies, articulated the depth of this commitment, stating in an exclusive interview with Spear’s, "Putting the family name on the prize was a thoughtful decision. Putting our name behind this commitment felt important. It’s a statement of belief. I believe deeply in translated literature, in its impact and in its power to cross borders, languages and differences." This personal conviction underscores the philanthropic mission driving the partnership.
Bukhman Philanthropies, established by Daria and her husband Dmitry Bukhman, is the grant-making arm of their substantial philanthropic endeavors. Dmitry Bukhman, alongside his brother Igor, co-founded the highly successful mobile games developer Playrix. The brothers’ considerable wealth, recognized by their tenth-place ranking on the 2026 Sunday Times Rich List with an estimated combined fortune of £14.26 billion, enables this ambitious philanthropic vision. Since its inception in January 2025, Bukhman Philanthropies has already committed nearly $100 million across its core focus areas: neonatal and maternal health, the mental health and wellbeing of children, and literature.
The decision to invest in the International Booker Prize stems from Daria Bukhman’s lifelong passion for literature, nurtured by her upbringing in Russia. A linguist by training, with English as her university major, she found that translated fiction served as her primary gateway to the wider world during her formative years. "My family didn’t have money to travel abroad. For me, [literature] was my gateway to the world," she shared. Her early literary landscape was populated by authors like Erich Maria Remarque, Françoise Sagan, and Haruki Murakami, all experienced through the lens of Russian translation. She recalls, "Their [novels] felt so authentic and original. You don’t really understand you’re reading a translation." This personal connection to the transformative power of translated works has now translated into a significant philanthropic commitment.
A Deepening Commitment to Literary Excellence and Equity
The partnership with the Booker Prize Foundation represents a strategic alignment of values and objectives. While Bukhman Philanthropies initially considered establishing its own literary prize, Daria Bukhman recognized the established credibility, extensive reach, and foundational ethos of the International Booker Prize. "The more I thought about it, the more I couldn’t pinpoint how this prize would be different from other prizes," Bukhman explained. She then reached out to Gaby Wood, Chief Executive of the Booker Prize Foundation. "I loved their values, ethos, credibility and the vast range of their approach. I realised I really wanted to back them as an organisation."
This decade-long commitment is a deliberate statement of intent. In an era characterized by rapid technological advancement, including the rise of AI, Bukhman believes that translated fiction offers a vital counterpoint. "In an age shaped by speed, disruption and AI advancement, translated fiction offers us the opposite: time to slow down, to reflect and to broaden our perspective," she stated. She remains firm in her belief that AI, at its current stage, cannot replicate the profound human connection inherent in literature. "At the moment, AI cannot produce a great piece of fiction. As a reader myself, you’re reading for the connection with the author. It’s a connection from human to human through a book."
A significant aspect of the new funding is the doubling of the winner’s prize money to £100,000, which will be split equally between the author and the translator. This move directly addresses the historical disparity in recognition and reward for translators, who are often the unsung heroes of international literature. "We wanted to double the overall prize pot for the International Booker Prize because we felt it was fair for the author and translator of a translated work of fiction to each get the same prize money as the author of an English-language work would get through the Booker Prize," Bukhman explained. "The translator, and translation in general, is a creative act that needs to be celebrated." This equitable distribution acknowledges the translator’s integral role in bringing a literary work to life in a new language.
Impact and Evidence: The Growing Influence of Translated Fiction
The increased financial support is expected to further amplify the prize’s impact on the global literary landscape. The International Booker Prize has already demonstrated tangible results in boosting the visibility and sales of translated works. Research from industry sales tracker NielsenIQ BookData reveals that UK sales of translated fiction have surged by 31% since the prize’s inception in 2016. This growth trajectory is a key metric for Bukhman, who sees it as a testament to the prize’s success in cultivating a wider readership for international literature.
The prize’s influence is also evident in the career trajectories of its nominees and winners. Notably, five authors who have been recognized by the International Booker Prize have gone on to win the Nobel Prize in Literature. This impressive record, Bukhman observes, "speaks to the credibility of the prize and how it’s changing the global perspective on translated fiction."
A compelling case study of the prize’s impact is the 2026 International Booker Prize winner, Taiwan Travelogue by Yáng Shuáng-zí, translated by Lin King. This marked the first time a book translated from Taiwanese Mandarin received the prestigious award. Following its win, the book experienced an unprecedented surge in popularity. UK sales rocketed from 10,000 copies to 49,000, prompting its Taiwanese publisher to print an additional 110,000 copies to meet demand. Furthermore, translation rights were sold in 32 territories, a significant increase from the 14 territories prior to its nomination. This success story, which unfolded as the funding partnership was being finalized, further solidified Bukhman Philanthropies’ confidence in the prize’s ability to drive global literary engagement.
The partnership’s ten-year term provides a stable foundation for future initiatives. Bukhman Philanthropies is committed to supporting not only the prize money but also the broader ecosystem surrounding translated literature. This includes funding for events that bring authors, translators, and readers together, as well as dedicated programs aimed at nurturing emerging literary talent and developing the skills of translators. These initiatives are crucial for ensuring the continued growth and vitality of translated fiction.
A Vision for the Future: Beyond Personal Recognition
Daria Bukhman’s perspective on philanthropy is grounded in action and tangible outcomes rather than personal recognition. When asked about legacy, she stated, "Honestly, I don’t think about legacy. It’s not about people saying something about me – it’s just doing things, step by step, and arriving at a destination." Her focus is on the sustained impact of the funding on the literary world, fostering a more inclusive and dynamic environment for global storytelling.
The Booker Prize Foundation, through its Chief Executive Gaby Wood, expressed profound gratitude for the landmark donation. Wood highlighted the shared vision and the transformative potential of the partnership. The commitment from Bukhman Philanthropies will enable the Foundation to expand its reach, deepen its engagement with diverse literary traditions, and ensure that translated literature continues to captivate and inspire readers worldwide.
The first Bukhman International Booker Prize will be awarded in May 2027. Publishers began submitting entries for the 2027 prize on July 2, 2026, signaling the commencement of a new chapter for this esteemed literary award. This substantial investment by Bukhman Philanthropies is poised to elevate the International Booker Prize to unprecedented heights, championing the vital role of translated literature in fostering understanding, empathy, and cultural enrichment on a global scale. The expanded prize money, coupled with enhanced support for literary programs, signifies a robust commitment to the future of storytelling across borders.
