Silicon Valley billionaire, philanthropist and author Michael Moritz and his wife Harriet Heyman's charitable foundation has been announced as the new sponsor of the Booker prize, a month after the Man Group revealed it was ending its 18-year sponsorship of the prestigious award for literary fiction.
Moritz and Heyman's foundation, Crankstart, has committed to an initial five-year exclusive funding term for the Booker, with an option to renew for a further five years. It will not give its name to the award, which will revert to its old name of the Booker prize from 1 June, when the Man Group's sponsorship ends.
Moritz and Heyman's foundation, Crankstart, has committed to an initial five-year exclusive funding term for the Booker, with an option to renew for a further five years. It will not give its name to the award, which will revert to its old name of the Booker prize from 1 June, when the Man Group's sponsorship ends.