Everything To Know About The Wealth, Prize Money, And Costs That Go Into The Kentucky Derby

On the first Saturday of May, over 150,000 spectators pack into Churchill Downs in a riot of pastel suits, oversized hats, and mint juleps. Millions more tune in from around the world for what's billed as "the most exciting two minutes in sports." But the Kentucky Derby is much more than a horse race. It's a high-stakes showcase of money, power, legacy, and dreams—where fortunes can be made (or lost) in less time than it takes to boil an egg.

Behind the glamour and pageantry lies a staggering financial engine. Every year, owners spend millions trying to buy or breed the next Derby winner. Trainers devote entire careers chasing a single shot at glory. Jockeys—independent, underpaid, and always replaceable—risk everything for a chance to ride into history. And if the stars align, a $1,200 horse can suddenly be worth $100 million.

So, what does it really cost to win the Kentucky Derby? Who profits the most? And how can a two-minute race turn a flesh-and-blood animal into a billion-dollar brand? From million-dollar studs to freelance jockeys, from wild longshots to iconic champions like Secretariat, here's everything you need to know about the wealth, prize money, and hidden economics behind the Run for the Roses.

Let's start with the Jockeys.

How Much Does a Jockey Make? And What Do They Make for Winning the Derby?

In most races, jockeys earn a modest mount fee, typically $100 to $300 per race, regardless of whether they win. Their real income comes from a percentage of prize money: usually 5% of the owner's share for finishing first, second, or third. In the Kentucky Derby, the stakes are much higher. The winning jockey typically earns around $186,000, based on a 10% cut of the $1.86 million first-place purse (from a $3 million total purse pool).

Jockeys are essentially freelancers. They don't work year-round with the same horse—instead, they're hired on a race-by-race basis, often just weeks before a major race. A top jockey might ride 800 to 1,000 different horses in a year, often flying coast to coast to compete at different tracks.

One of the most iconic examples is Calvin Borel, the Louisiana-born jockey who won the Kentucky Derby three times in a four-year span (2007, 2009, 2010). Known for his fearless rail-hugging style, Borel became a fan favorite—and a millionaire—despite modest fees. His typical mount fee was around $200, but thanks to big wins and consistent finishes in graded stakes races, his career earnings exceeded $130 million in purse money. Of that, Borel's personal take (after the standard 10% cut) is estimated to be around $10–13 million before taxes and expenses.

It's a profession with long odds, hard landings, and slim margins. But on Derby Day, one jockey can leap from anonymity to national stardom—and take home a six-figure payday in two minutes flat.

How Much Does a Trainer Like Bob Baffert Make?

Legendary trainer Bob Baffert has racked up over $367 million in career earnings from purse winnings alone. But that's not his personal take-home. Trainers typically receive 10% of purse earnings, which would put Baffert's actual cut at around $36 million over his career, before taxes, staff salaries, and operating costs.

In addition, elite trainers often receive monthly retainers or day rates from wealthy owners, plus a cut of any stud fees if they're tied to a horse's syndication post-career.

How Much Does the Winner Really Take Home?

The winning team earns $1.86 million from a $3 million total purse, but that gets split:

• 10% to the jockey
• 10% to the trainer
• The rest to the owners

But the real money comes after the race, especially for colts who become stud stallions. That's where lifetime earnings can reach into the hundreds of millions. For fillies, a Derby win enhances breeding value, but it doesn't come with the same scale of recurring stud income.

The Real Jackpot: Stud Fees and the Billion-Dollar Breeding Game

Winning the Kentucky Derby might earn you a few million at the track, but for colts, the real money gallops in after retirement. A Derby champion instantly becomes one of the most valuable breeding assets in the world, with stud fees ranging from six to seven figures per session. Multiply that by hundreds of mares per year, and you've got a revenue stream that dwarfs the winner's purse.

Take American Pharoah, for example. After his 2015 Triple Crown win, he was syndicated at a valuation estimated around $70 million. At his peak, he commanded $200,000 per breeding session, covering over 100 mares a year. That's $20 million annually—just for showing up… and… doing it.

Then there's Justify, who won the Derby and Triple Crown in 2018. He was retired shortly after and sent to stud at Ashford Stud in Kentucky with an initial stud fee of $150,000. He, too, bred hundreds of mares within his first few seasons, generating tens of millions in fees before any of his offspring even set foot on a track.

Even horses that don't win the Triple Crown can generate massive lifetime earnings through breeding. Nyquist, the 2016 Derby winner, stood for $75,000 early in his stud career. Fusaichi Pegasus, who won in 2000, was famously sold to Coolmore Stud for a reported $70 million, making him one of the most expensive stallions in history, despite a lackluster stud legacy.

For owners of winning colts, the Kentucky Derby isn't just a trophy—it's a launchpad into multi-generational wealth, with syndication deals, naming rights, and residual income that can stretch for decades.

Galileo: The Most Lucrative Stud Horse of All Time

If Kentucky Derby winners like American Pharoah and Justify are blue-chip stallions, then Galileo was Berkshire Hathaway in a bridle.

Foaled in 1998 and trained by Aidan O'Brien, Galileo won the Epsom Derby and Irish Derby before retiring to stud at Coolmore Stud in Ireland. There, he didn't just produce winners—he created a bloodline dynasty. Over his 19-year stud career, Galileo sired more than 90 Group 1 winners, including legendary names like Frankel, New Approach, and Australia.

His stud fee was kept private, but it was widely reported to be €400,000 ($450,000) at its peak. With estimates of 150 to 200 mares bred per year, that put his annual breeding revenue at $60 to $80 million during his prime years. Over nearly two decades, Galileo likely generated over $250 million in stud income, making him the highest-earning horse in history by a wide margin.

From $1,200 to the Winner's Circle: The Rich Strike Story

In 2022, Rich Strike shocked the world with an 80-1 Kentucky Derby victory. The twist? He was purchased for just $30,000 and originally claimed for $30,000 after being entered into a lower-tier race. But dig deeper, and you'll find his original purchase price: a mere $1,200 as a yearling.

The story was a rare modern-day Cinderella tale in a sport increasingly dominated by million-dollar pedigrees and billionaire owners.

How Much Did Secretariat Make After His Career?

Secretariat, perhaps the most famous racehorse of all time, earned just $1.3 million on the track. But the real fortune came in retirement.

In 1973, shortly after winning the Triple Crown, Secretariat was syndicated for $6 million—a record at the time. Adjusted for inflation, that's equivalent to around $40 million today.

His stud career was less dominant than his racing days, but his bloodline continues to influence thoroughbreds, adding long-term residual value to his legacy.

(Photo by Andy Lyons/Getty Images)

What Does It Cost to Buy, Train, and Maintain a Kentucky Derby Contender?

Getting a horse to the Kentucky Derby isn't just a test of speed—it's a test of capital. Before a single race is run, owners may have already poured hundreds of thousands—or even millions—into a single thoroughbred.

The cost starts with the purchase price. Well-bred yearlings at elite auctions like Keeneland or Fasig-Tipton regularly sell for $200,000 to $500,000, and standout colts can fetch seven figures. Some Derby contenders are homebred by major racing operations, but many are high-risk, high-dollar investments made years before the big race.

Once a horse is purchased, training and upkeep become a relentless expense. Boarding at a top racing stable can run $50,000 to $80,000 per year, not including entry fees, transportation, veterinary care, insurance, and other operational costs. Hiring a world-class trainer adds even more—elite names like Bob Baffert or Todd Pletcher often come with day rates, monthly retainers, and a 10% cut of winnings.

Then there are the prep races, where owners pay thousands in entry fees for qualifying stakes races that build up to the Derby. Simply entering the Kentucky Derby itself costs $25,000 in fees, and horses must be nominated early on with an initial payment.

In total, getting a horse to Churchill Downs can cost anywhere from $300,000 to $2 million or more. And that's without guaranteeing a win—or even a spot in the starting gate. In the world of thoroughbred racing, the Kentucky Derby isn't just a race. It's an investment gamble with sky-high stakes.

Final Stretch: Glory, Risk, and the Price of a Dream

For most people, the Kentucky Derby is a spectacle of Southern charm and speed. But behind the roses and bourbon lies a brutal business—one where fortunes are gambled, careers are made overnight, and a single two-minute sprint can transform a modest investment into generational wealth.

It's a world where jockeys earn less than flight attendants unless they win big, where trainers work 365 days a year to chase one historic win, and where horses are treated like athletes one day and investment portfolios the next. For every millionaire stud like American Pharoah or Secretariat, there are thousands of also-rans who never sniff the finish line at Churchill Downs.

But that's the magic—and the madness—of the Derby. It's not just a race. It's a high-stakes financial fantasy. And once a year, for two glorious minutes, everyone from billionaires to longshot bettors gets to believe in the impossible.