Australia's top horse races have long boasted some of the world's best prize money, from Sydney's $3.5 million Golden Slipper to the $6.2 million Melbourne Cup. But Queensland's Magic Millions looks set to blow them out of the water on January 9, the race's 30th anniversary, with a $10 million purse.
Held at the Gold Coast Turf Club, the carnival is a spin-off from Gerry and Katie Harvey's Magic Millions thoroughbred sales, with entry confined to horses sold there. The two key races, the two-year-old Classic and the three-year-old Guineas, are worth more than $2 million each.
It's not surprising then, that the carnival's lavish VIP marquee will welcome a new benefactor this year in Wang Jianlin, aka China's richest person. Forbes lists Wang, chairman of real estate conglomerate the Dalian Wanda Group, as the 29th-richest man in the world, worth more than $US29.7 billion ($41.8 billion).
Wang knows the Gold Coast well; Wanda is part of a joint venture building Jewel, a three-tower retail, hotel and residential development near Surfers Paradise, due for completion in 2018.
Lure of prize money
That prize money is proving enough to entice other billionaires Down Under for the event too, including American vineyard owner and racehorse breeder, Barbara Banke. The widow of US wine entrepreneur Jess Stonestreet, Banke has kept their Jackson Family Wines thriving. It owns more than 40 vineyards around the world, including Yangarra Estate in South Australia.
The Queen's granddaughter, Zara Phillips, is on track to attend, along with Tom Magnier, head of Coolmore Stud's Australasian operations and the son of one of Europe's richest men, John Magnier.
Australia's usual suspects are likely to turn up for a bet, from entrepreneur John Singleton to trainers Gai Waterhouse and Peter "Black Caviar" Moody, as well as James Cummings, grandson of the late Bart Cummings. Radio personality Alan Jones will be there, along with his friend and racing partner John Messara of Arrowfield Stud in the NSW Hunter Valley.
