UK Auction House Targeting Rich Millennials for Racehorse Ownership

Owning a racehorse is the latest way for rich millennials to brag

Why Show Betting is the Ideal Horse Racing Bet for New FansHenry Beeby, the chief executive of the thoroughbred racehorse auctioneers Goffs, said that his employer, which dates back to 1866, is targeting millennials because “they’ve got the money”, and they are about to become even wealthier as “the great wealth transfer” flows to children of an older generation of super-rich people who are expected to pass on a total of $70tn over the next two decades.

“There’s nothing quite like the thrill of ownership,” Beeby said. “There’s nothing like seeing your horse and your jockey in your colours on the track, and – my word – if it happens to win and you can share that joy with your friends.

For example, Cameron Sword, a 22-year-old business student, invested £3,700 in a runner named Corach Rambler as part of a seven-strong syndicate in 2020. The 10-year-old Irish-bred thoroughbred won last year’s Grand National, and was the favorite to coming into this year’s race [he unseated the rider and lost]

For the full article from the Guardian on racehorse ownership

How Sol Kumin Turned A Labour Of Love Into The World’s Leading Horse Racing Business

Is Sol Kumin the ultimate “hobby-preneur”? Amid a 20-year career on Wall Street, including the launch of his own hedge fund business, Kumin only became interested in horse racing in 2014 when a friend persuaded him to take a stake in a thoroughbred. Six years later, the financier has built one of the world’s most successful racing stables, with a string of winners of prestigious races to his name.

“The racing has turned into a more commercial endeavour but it certainly didn’t start out that way,” reflects Kumin, who confesses he quickly got “hooked” following his initial foray into the sport. “Initially, it was a bit of a journey to understanding there was so much more to this sport; we bought more horses, did some research on how to do things a little differently, and over time it became a business.”

Thoroughbred Horse breeding in Minnesota is a High-risk, High-reward Business

“They’re all Kentucky Derby contenders,” Rake said, “until you find out they’re not.”

On the seventh day of his vigil, Scott Rake hovered over his laptop and rubbed his bleary eyes. His mare, Peaceful Sky, should have given birth by now — and with her pregnancy at 340 days and counting, he was trying his best not to worry. Rake, his wife, Angie, and farm manager Heather Haagenson began… [Read more…]

Former QB Jake Delhomme now calls shots in horse racing

LAFAYETTE, LA — Growing up it was always school, sports and horses for Jake Delhomme. Now that the other two are out of the way, thoroughbred horses still consume Delhomme’s interest as he plans to enter several from his Set Hut stables during the racing …

Source: Former quarterback Delhomme now calls shots in horse racing

NY Times features story about controversial horse owner

One of the most hated men in the world is a Thoroughbred racehorse owner, and he is not just some “bit” player in the lucrative, worldwide game. He has owned horses in some of the biggest races in the world, including The Melbourne Cup.

Ramzan A. Kadyrov is the leader of the Russian Republic of Chechnya, and he has been accused of numerous atrocities against human kind. As a result, both of his racing applications in Kentucky and New York, arguably the top two racing jurisdictions in the United States, have been rejected.

Check out this except from Wired magazine in 2009:

Opponents and critics of Ramzan Kadyrov — the pro-Kremlin president of the Chechen Republic — have a habit of meeting violent, unexpected ends. Earlier this year [2009], Umar Israilov, a former bodyguard to Kadyrov, was tracked down and killed in Vienna; he had disclosed information on torture and extrajudicial killings in Chechnya.  And most famously, investigative journalist Anna Politkovskaya was murdered outside her home in Moscow in late 2006. She had been researching a story on misdeeds by Kadyrov’s militia; the murder remains unsolved.

Read more from The New York Times