China Horse Club Makes a Run for the Roses

The China Horse Club has about 200 members, according to its vice president, Eden Harrington. Membership costs a minimum of $1 million, according to some reports, but Mr. Harrington said the club offered different tiers of investment and that the fee was a credit that went toward the purchase of horses. He declined to give a range, and the club does not disclose the identities of members, who include wealthy citizens from China’s mainland and beyond.

The club’s success, however, has led to questions about where its money is coming from, how it is being used, and how the club has been able to spend so much overseas when the Chinese government’s sweeping anti-corruption crackdown has halted billions of dollars of international deals.

Teo Ah Khing, the man behind the high-flying club, is a self-described billionaire from Malaysia with big ambitions. Mr. Teo, a Harvard-educated architect, does not want to just win races, he wants to build a horse racing mecca in China, where gambling is still illegal. He has also broken ground on a horse racing “resort and lifestyle development” in St. Lucia, a Caribbean island that currently has no thoroughbred industry but does…

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