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

Henry 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