The Premio Planeta de Novela is a Spanish literary prize, awarded since 1952 by the Spanish publisher Grupo Planeta to an original unpublished novel written in Spanish. It is one of about 16 literary prizes given by Planeta. Financially, it is the most valuable literary award in the world for an author or book, with the winner receiving €1,000,000. It was created by José Manuel Lara Hernández in 1952 and is awarded on 15 October, St Teresa's day, Teresa being the name of Lara's wife. Since 1974 there has also been an award to the runner up, which now stands at €150,000. Source: Wikipedia (en)