The novel, described by the judges as "shocking and unexpectedly funny", tells the story of an African-American man who attempts to assert his identity, ironically by reintroducing slavery and segregation in his Los Angeles neighbourhood.
The 54-year-old author collected the 50,000 pound literary award at a ceremony at London's Guildhall last night.
Beatty appeared overwhelmed with emotion and struggled for words as he began his acceptance speech.
"I hate writing," the Los Angeles-born writer said.
The author's caustic wit and humour set against the backdrop of US politics earned him high praise from the judges, who compared his work to the likes of Mark Twain and Jonathan Swift.
Amanda Foreman, chair of the judging panel, said the novel had been chosen unanimously after four hours of deliberation.
"'The Sellout' is one of those very rare books that is able to take satire, which is in itself a very difficult subject and not always done well, and it plunges into the heart of contemporary American society with absolutely savage wit of the kind I haven't seen since Swift or Twain," she said.
Beatty, who now lives in New York, has three previous novels - "Slumberland", "Tuff" and "The White Boy Shuffle".
This is the third year that the award has been open to writers of fiction of any nationality. The shortlist included two British, two US, one Canadian and one British-Canadian writer.
The Sellout beat five other novels, including Madeleine Thien's Do Not Say We Have Nothing, the bookies' favourite.
The shortlisted authors each receive 2,500 pounds and a specially bound edition of their book.
The award was presented to Beatty by Camilla Parker-Bowles, the Duchess of Cornwall.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
