From David Murdock, the 98-year-old Dole chairman, who we once reported owned hundreds of Arabian horses, to Mary Alice Dorrance Malone, a Campbell’s Soup heiress with a breeding operation for horses that compete in equestrian events, billionaires have owned all kinds of horses over the years. In this episode, Forbes takes look at Spendthrift Farm—one of the most storied Thoroughbred farms in the country, which today boasts North America’s top sire Into Mischief as well as 2020 Kentucky Derby winner Authentic. Longtime Forbes 400 member B. Wayne Hughes purchased the farm—one of the nation’s ultimate trophy properties—in 2004 for an undisclosed price, and after his death at age 87 in August, we now count it as part of the estimated $8 billion fortune of his daughter, Tamara Gustavson. We’ll explain how we estimate the price of those priceless stallions, as well as the land that’s been a part of the Kentucky farm for nearly a century. For more than three decades Forbes reporters have tracked the fortunes of the richest people on the planet: putting dollar figures to their business empires, investments, their one-of-a-kind art, their private islands and more. Now, we’re taking you behind the scenes to show you how we determine the value of the most unique assets owned by the world’s billionaires. Read the full story on Forbes: https://www.forbes.com/sites/michelatindera/2021/10/05/why-this-billionaire-owned-thoroughbred-horse-farm-is-worth-400-million/?sh=643ba04e5f8e Subscribe to FORBES: null Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com/ Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com/ Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.