Carlos Palanca Sr. was a prominent Filipino businessman and philanthropist, best known for founding the Carlos Palanca Memorial Awards for Literature. Born in 1894, he played a significant role in the development of the Philippine economy during the early 20th century. His contributions to various industries, including tobacco and real estate, helped establish his legacy in the country. In addition to his business ventures, Palanca was dedicated to promoting literature and the arts in the Philippines. The awards he established continue to recognize and honor outstanding literary works, fostering a rich cultural heritage in the Philippines. His commitment to education and the arts has left a lasting impact on Filipino society.