Bill Gates buys $18 million horse farm from Jenny Craig
Bill Gates, the man behind the technology giant Microsoft, has just completed one of the most expensive property purchases this year in San Diego County. What makes this even more interesting, is that the property he has bought is weight-loss icon Jenny Craig’s 229-acre thoroughbred training center in Rancho Santa Fe.
Gates’s daughter jumps horses competitively, which is probably the main reason behind the move. The Gates family has also visited the area with friends and family over many years. The deal for the Rancho Paseana horse property costs approximately $18 million.
The ranch was closed in May 2013 for financial reasons after upheaval in the horseracing industry nationwide: Inglewoods Hollywood Park was approaching its fall season and some races were shifted to Del Mar. Before being shut down, Craig’s horse ranch was being used as a top quality thoroughbreds training ground, but was mostly used as a “lay up facility for horses to relax and recover from injuries.
Craig, who has not named the buyer, said she has many happy memories of her time at the ranch but that it was too expensive to maintain. She said it was time to put it behind her as she is moving on to a new chapter in her life.
She has said that she is happy the buyer is someone who can affort to turn it into the showplace it was meant to be. Gates plans to turn the equine facility into a grand prix circuit for hunters and jumpers.
The equine property features a three-quarter-mile dirt training track, rehab equipment for injured horses and four 30-stall barns. The package also includes two apartments with a french motif. Craig also received offers to build a golf course or a hotel on the farm land, but declined in order to keep the facility for its original purpose: for horses.
This isn’t the first time America’s richest man has splashed the cash on horses either. A few years ago Gates leased a home in Palm Beach, Fla. for $600,000 so that his daughter Jennifer could be near Wellington’s Equestrian Festival. It was also reported that around the same time he leased four elite jumping horses for $50,000 to $75,000 for his daughter to train.
We’re not sure if there are any horse properties for sale of the same caliber as the Rancho Paseana on our site, but why not have a look?
Now he has purchased the equine facility, maybe he should start looking for some horses for sale as well.
Photos courtesy Barry Estates/Preview First
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