Billionaire Democratic donor George Soros holds an ownership stake in Justify, the 3-year-old chestnut colt that would win horse racing’s elusive Triple Crown with a victory at the Belmont Stakes on Saturday.
Soros’ investment firm, Soros Fund Management, owns a 15% share of Justify’s breeding rights through its horse racing operation SF Bloodstock and SF Racing Group, the New York Times reported. WinStar Farms owns a majority 60% stake in breeding rights, while China Horse Club owns 25%.
Since Soros’ fund does not own racing rights to Justify, he does not stand to share the $1.5 million winning purse at Belmont if the horse is victorious. However, the undefeated colt’s breeding rights are expected to be lucrative, especially if Justify becomes the 13th horse in history to win the Triple Crown.
Justify’s owners reportedly sold the horse’s breeding rights for $60 million before the Preakness Stakes, the second leg of the Triple Crown. The deal was said to include a $25 million bonus if Justify won the Triple Crown, the Times reported.
American Pharoah, who became the first horse to win the Triple Crown in decades in 2015, has reportedly fetched more than $35 million through breeding rights to date.
Both Justify and American Pharoah share famed trainer Bob Baffert.
Soros, 87, is best known for his prominent funding of liberal political causes in the U.S. and abroad, including his opposition to Brexit. The business magnate has a net worth of about $8 billion, according to Forbes.
The 150th running of the Belmont Stakes, which is 1.5 miles, is set for Saturday at about 6:30 p.m. ET.