Hungarian-British author David Szalay wins Booker Prize for Flesh, a 'meditation on masculinity'

David Szalay has won the 2025 Booker Prize for his novel Flesh, becoming the first Hungarian-British author to win one of the top awards in the English-speaking world.

Written in spare prose, characterised by brevity and a lack of unnecessary detail, the book follows a man caught in a series of events beyond his control over decades. It charts his rise from a housing estate in Hungary to the mansions of London's super-rich.

“A meditation on class, power, intimacy, migration and masculinity, Flesh is a compelling portrait of one man, and the formative experiences that can reverberate across a lifetime,” organisers of the award ceremony in London said in a statement.

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In addition to the £50,000 ($66,000) prize for the winner, as well as a £2,500 award to each of the shortlisted authors and translators, the writers also gain a boost in popularity and benefit from increased book sales.

David Szalay took home a $66,000 prize. Getty Images

“Even though my father is Hungarian, I never felt entirely at home in Hungary. I suppose, I’m always a bit of an outsider there and living away from the UK and London for so many years, I also had a similar feeling about London,” Szalay told BBC Radio.

“I really wanted to write a book that stretched between Hungary and London and involved a character who was not quite at home in either place.”

The novel was the Canadian-born author's sixth work of fiction. He was shortlisted in 2016 for his book All That Man Is, which tells the story of nine men at various life stages.

Booker Prize 2025 winner David Szalay (centre) with judges Sarah Jessica Parker, Chris Power, Ayobami Adebayo, Kiley Reid and chair of the judging panel Roddy Doyle (from left) during The Booker Prize 2025 ceremony at Old Billingsgate in London. Getty Images

“We had never read anything quite like it. It is, in many ways, a dark book but it is a joy to read,” Roddy Doyle, chair of judges this year, said in the statement shared by the organisers.

“I don’t think I’ve read a novel that uses the white space on the page so well. It’s as if the author … is inviting the reader to fill the space, to observe – almost to create – the character with him.”

Doyle's fellow judges included Sarah Jessica Parker, Chris Power, Ayobami Adebayo and Kiley Reid.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Fireball

Moscow claimed it hit the largest military fuel storage facility in Ukraine, triggering a huge fireball at the site.

A plume of black smoke rose from a fuel storage facility in the village of Kalynivka outside Kyiv on Friday after Russia said it had destroyed the military site with Kalibr cruise missiles.

"On the evening of March 24, Kalibr high-precision sea-based cruise missiles attacked a fuel base in the village of Kalynivka near Kyiv," the Russian defence ministry said in a statement.

Ukraine confirmed the strike, saying the village some 40 kilometres south-west of Kyiv was targeted.

If you go

The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.