Billionaires Still Love the Horse Race That Stops a Nation
- Melbourne Cup lures owners with more than $5 million in prizes
- Ultra wealthy undeterred amid rising animal cruelty concerns
The Melbourne Cup may have lost its title as Australia’s richest horse race, but it remains a major lure for racing-mad billionaires.
Wealthy horse owners from around the world sent their prized thoroughbreds to Australia’s second-biggest city for a chance to take home A$4.4 million ($3 million) for first place and an 18-carat gold trophy worth about A$200,000. First past the post Tuesday was Australian horse Vow and Declare, for local trainer Danny O’Brien and a consortium of owners.