From CNBC: 2025-05-01 07:00:00

Mystik Dan #3 wins the 150th Kentucky Derby, earning jockey Brian J. Hernandez Jr. $3.1 million from a $5 million purse. The 151st Derby this Saturday will see Bank of America’s Steven Mason watching from a box, specializing in equestrian clients for nearly a decade. Financing horses through loans is a tax-savvy move, avoiding capital gains taxes.

Top race horses can earn more from stud fees than track winnings, with fees over $300,000. Despite a decline in popularity, demand for high-end race horses remains strong, especially yearlings. Auctions like Keeneland’s September sale show rising prices, with average selling price per horse at $150,548. Thoroughbreds can be costly to care for, requiring up to $60,000 a year.



Read more at CNBC: How horse owners invest and potentially earn millions