Billionaire Moritz Takes Over Booker Prize as Man Group Bows Out
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A Silicon Valley billionaire has taken up where the world’s largest publicly traded hedge fund left off as sponsor of Britain’s top literature prize.
Crankstart, a charity run by Michael Moritz and his wife Harriet Heyman, will bankroll the Booker Prize for five years, including the 50,000 pound ($66,550) award for the best novel written in English and published in the U.K. and Ireland. It will also support the International Booker Prize for literature in translation.