Horse racing has traditionally been a domain for the wealthy elite, as only those with substantial financial resources could afford the costs associated with owning and maintaining a racehorse. While it is now possible for anyone to own a horse or a share in one, the racing world still resembles an exclusive club, similar to golf, tennis, or yachting.
Maintaining a racehorse is a significant investment. While the basic expenses, such as feed, vitamins, equipment, and care products, are comparable to those for a regular horse, racehorses require more elaborate facilities. These include upscale stables with premium amenities, training grounds, and sometimes additional features like solariums and swimming pools.
The horse's welfare depends on a dedicated team of professionals, including grooms, trainers, and veterinarians. There are also substantial costs related to insurance, transportation to competition venues, and necessary paperwork. Moreover, housing for both horses and staff during quarantine can be a separate source of expense. High-stakes races often require hefty entry fees as well.
Ultimately, while the financial outlay is considerable, the allure lies in gaining access to the prestigious circle of elite individuals, where horse racing often serves as an extravagant pastime.
Horse racing experts and horse owners from the pages of Forbes
Warren Buffett
Warren Buffett in 2024 ranks sixth in the ranking of the richest people in the world according to Forbes magazine.
A seasoned expert in the racing industry and the chairman of the board of directors at Berkshire Hathaway, this American entrepreneur owns stakes in over 60 companies, including notable brands like Duracell, Geico, and Dairy Queen. At just six years old, he made his first entrepreneurial move by purchasing a 6-pack of cola from his grandfather’s store and reselling it at a significant markup. This early venture marked his natural ability to generate profit from anything.
Accompanying his uncle and a friend to the racetrack, the children discovered innovative ways to earn money despite being prohibited from betting. After races, they collected discarded tickets from frustrated or inexperienced bettors who believed they had lost. The children then identified winning tickets and had Warren Buffett's aunt cash them in.
Additionally, they launched their own newsletter, Stable-Boy Selections. As a teenager, Warren Buffett utilised his mathematical skills to delve into handicapping theory, offering bets to others for a 15 percent commission. He later remarked that the principles of handicapping closely resemble those of the stock market, emphasising that success relies on having access to more information than others, followed by proper analysis and rational decision-making.
Amancio Ortega
Amancio Ortega spanish businessman and billionaire, he owns about 5,000 stores in 77 countries of such brands as Zara, Bershka, Oysho, Stradivarius, Uterque, Pull & Bear and Massimo Dutti. He is a very modest person, does not like to give interviews and appear in public. He spends his free time in the company of horses in the equestrian centre, which he himself organised.
Carl Icahn
Carl Icahn is a billionaire investor known for his aggressive policies. He buys up shares in companies, gets seats on boards of directors, and then makes decisions that are beneficial to him, including selling assets.
In 1985, he established Foxfield Thoroughbreds, a horse breeding operation. As part of this venture, he purchased a 6-year-old mare named Larida for $4 million and a 4-year-old daughter of Northern Dancer, Miss Oceana, for $7 million. In 1990, his mare Meadow Star triumphed in the Breeders' Cup Juvenile Fillies and several other prestigious races, earning the title of American Champion for that year. Since 1992, the focus of the company has been on thoroughbred breeding, resulting in approximately 140 horses bred. However, in 2004, following the November Keeneland Sales auction, Icahn sold his horses, leading to the dissolution of Foxfield.
Jacqueline Mars
Jacqueline Mars is the heiress of the Mars family, which owns shares of Mars Incorporated. In April 2024, Forbes magazine estimated her assets at $38.5 billion. The “Queen of Chocolate Bars” has been breeding and selling eventing horses for many years, is a trustee of the American equestrian team, and provides the territory of her estate for training of the US and Canadian teams before competitions.
Michael Dell
Michael Dell the founder and owner of Dell Technologies Inc, a computer manufacturer. According to Forbes, as of March 2024, Michael Dell's net worth is $124 billion. Arabian horses are a passion for the businessman, and he breeds them on his ranch in Texas. Dell's horses successfully participate in rodeos, which he sponsors.
Hollywood high society, television and horses
Film director Steven Spielberg, the author of the famous "Indiana Jones", Jurassic Park and other films, became interested in racing after getting acquainted with the story of the horse Seabiscuit, his team produced this film in 2003. He had several horses, the most successful of them had a strange, difficult to pronounce name Atswhatimtalkingabout, Spielberg was its co-owner. The horse's biggest win is fourth place in the 2003 Kentucky Derby.
Judi Dench, the great British actress and Oscar winner, has been passionate about horse racing since childhood. Judi is a patron of East Park Riding for the Disabled, a riding school for the disabled. Together with the millionaire Stewart family, she owns As De Mee, a thoroughbred French gelding. He has 35 races to his credit, 7 wins and 11 prizes. In 2018, the horse took part in the Grand National. Before that, Judi Dench was a co-owner of Smokey Oakey, the horse had 7 winning starts, including the Brigadier Gerard Stakes and Lincoln Stakes.
Liz Hurley, actress and ex-girlfriend of Hugh Grant, loves horse racing. She owns several horses. In 2011, Liz famously sold the mare Memory to Queen Elizabeth for breeding for £500,000.
Jeremy Kyle, a British TV presenter and writer, together with Coral managers owns a share in Glen Rocco, which has won two and placed three times in nine starts.
Love of sports and racing
Sir Alex Ferguson, the former manager of Manchester United, owns a collection of 32 top-tier racehorses. After his retirement from football, he developed a passion for horse racing and pursued a career in horse breeding. His most notable horse was Rock of Gibraltar. Currently, his stable features leading horses such as Spirit Dancer, a son of Frankel, and Hampden Park. Ferguson dedicated 39 years to training and an additional 10 years to breeding thoroughbreds, and he considers his work with horses to be a distinctive experience, quite different from his time in football. Recently, he partnered with Judi Dench and businessman Gad Mason to acquire the promising racehorse Outlaw Peter.
Wayne Rooney, the former Manchester United striker, and his wife owned several horses together, including a stake in Announcement.
After retiring from football, Michael Owen transitioned into breeding and owning racehorses, establishing Manor House Stables in Cheshire with his wife in 2007. His horse, Brown Panther, achieved a significant milestone by winning the Irish St. Leger in 2014, marking Owen's first victory in a class 1 race.
The involvement of celebrities in horse racing adds an extra layer of excitement and draws public interest, channelling the admiration of fans into a passion for the horses themselves.
Nonetheless, horses likely remain indifferent to the fame of their owners or the colours they wear on the racetrack. What truly matters to them is that they are loved and well cared for; in return, they strive to deliver impressive performances and solid results for their owners.