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He has become ubiquitous to Australian racing, but is seldom seen and rarely heard. Pick up a form guide, and you can’t miss his green and white silks. Chances are, you’ll probably be cheering one of his horses home in the Cox Plate.
His name is Zhang, Yuesheng Zhang, the Chinese billionaire behind Yulong Investments – Australia’s biggest racing empire, which, according to several leading trainers, is about to dominate the local scene.
Billionaire racehorse owner Yuesheng Zhang at the Inglis horse sales.Credit: Nick Moir
Zhang has about 700 mares in his breeding and racing operation, and two of them are dominating the Cox Plate market. If Via Sistina does not make it back-to-back victories in Australia’s weight-for-age championship on Saturday, there’s a strong chance it will be the behemoth’s other runner, Treasurethe Moment, saluting.
In the 1990s, racegoers became accustomed to the cerise colours of the Ingham brothers and the yellow-and-chessboard silks of Dato Tan Chin Nam. More recently, it’s been the blue of Godolphin, and now the green and white of Yulong.
Yuesheng Zhang (second from right) with Treasurethe Moment and trainer Matt Laurie (left) after the group 1 Vinery Stud Stakes in Sydney.Credit: Sam Mooy
Yulong, Chinese for jade dragon, is taking over Australian racing. In the past 12 months, their major-race haul includes the Cox Plate, Blue Diamond, Queen Elizabeth Stakes, the VRC Oaks and Australian Oaks. In Caulfield Cup placegetter River Of Stars, they have a live chance in the Melbourne Cup.
Zhang grew up near the China-Mongolia border, drove taxis, worked in coal mines, and then started his coal mining and transportation company. He is a father of three, all of whom are involved in Yulong. Not much else is known about him. He is a man of mystery.
Zhang does not speak English. Some in the racing industry joke that’s just an excuse to not give interviews, or to minimise interaction with racing figures.
His trainers talk to him through an interpreter or a family member. It’s the same with his senior staff at Yulong. Will and J.D. Hayes are among the very few Australian trainers who have spoken directly with him. They are fluent Chinese speakers.
“He chooses not to talk too much,” trainer Ben Hayes said. “Normally, you talk to Jun, [racing manager] Troy Stephens, [chief operating officer] Sam Fairgray – there’s a whole team around him. They talk to him, and they get back with a decision.
“I think he prefers it that way. He likes to communicate through his team.”
Via Sistina was a dominant winner of last year’s Cox Plate.Credit: Getty Images
As an owner, Zhang is not overbearing, his trainers say. A more controlling owner may have pushed harder for Via Sistina to run in last year’s Melbourne Cup.
“He’s an absolute star, he’s a professional,” Via Sistina’s champion trainer Chris Waller said. “He really respects horses, animals, and he’s one of us – not just sitting in the boardroom or firing directions, he’s working with us on the frontline and enjoying his job.”
Zhang loves animals. He races pigeons in China, and grew up around livestock. He knows horses.
“For someone who runs such a big empire, his attention to detail is pretty good,” Victoria’s leading trainer Ciaron Maher said. “He’s very straightforward [to train for]. Like anyone managing bloodstock of that calibre, you want to know exactly what’s happening to them.
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“It’s not just a business model, it’s his passion and what he enjoys. He loves the horses – gets out in the paddocks with them, walks them, [and] really enjoys the farm. It’s not just someone who wants to have a go – this is his passion. He’ll stick around.”
Via Sistina is Yulong’s flagship horse, but Treasurethe Moment is Zhang’s favourite. He owned the mare’s dam, Draconic Treasure, and her sire, Alabama Express, stands at his stud. When Treasurethe Moment won the Oaks at Flemington last year, Zhang helped lead her back to the enclosure, something he does with only a few of his horses.
“It’s like having your own child that’s made it through to the grand final,” Fairgray said.
Zhang, who is based in Beijing, will not be at the Valley on Saturday.
“He’s already seen a Cox Plate win – he’s done it once, he doesn’t need to see it again,” Fairgray said.
Yulong is not afraid to spend big to improve their stock. Last year, they smashed the record for the highest sum spent on a filly or mare in the southern hemisphere when they splurged $6.6 million for former star sprinter, Imperatriz.
This year at the Magic Millions’ national broodmare sale on the Gold Coast, they spent $12.8 million on 10 mares, including multiple group 1 winner Atishu for $2.7 million, and $2.1 million for a moderate performer, Call Di, with regal bloodlines.
“They will transform Australian racing over the next couple of years just because of the quality of mare they’ve acquired,” Maher said.
“Those breeding lines are quite amazing with what they’ve been able to acquire. They’re going to own most of the good mares, breed, sell and keep what they want. It’s a very good position to be in.”
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