American Pharoah owner Ahmed Zayat always makes bold moves

NEW YORK – Ahmed Zayat spends big money buying and betting on horses, and brags about how successful he’s been at everything he’s set out to accomplish.

From buildings to beer to breeding, when Zayat becomes involved in business, he’s going for the gusto. No glass half empty for him. He’s all in, all the time, consumed at being the best.

Up next? A chance at racing history with American Pharoah in the Belmont Stakes on Saturday. The Kentucky Derby and Preakness winner he owns will attempt to become the 12th Triple Crown champion and first to sweep the races since Affirmed in 1978.

“I’m a driven guy, a competitive guy,” said the 52-year-old Zayat, who was born in Egypt and lives in New Jersey. “I’m result oriented. I work hard and have been very successful, and we’ve made a lot of money over the years.”

Along the way, there have been a few cracked slippers, particularly as he rose to prominence in racing. His Zayat Stables filed for bankruptcy in 2010 when his bank said there were $34 million in unpaid loans. In the filing, he disclosed he had made loans to two brothers who a few years later pleaded guilty to operating an illegal gambling operation. The stable eventually climbed out of financial trouble and recovered.

All wasn’t behind him. In March, a man filed a $1.65 million lawsuit contending he fronted Zayat money for bets at offshore casinos in 2003 but was never repaid.

The case has escalated as the Triple Crown finale nears, with the attorney behind the suit tacking on a $10 million libel claim based on comments Zayat made defending himself.

“It’s sad, really sad,” Zayat said Tuesday at Belmont Park before American Pharoah’s arrival from Louisville, Kentucky. “To me, this is the moment we should be enjoying as a family and frankly speaking, it’s not about me. It’s about the horse.”

Bob Baffert, who trains American Pharoah, said outside issues come with the territory.

“You have to expect there’s always somebody out there that has to bring some kind of a negative scandal and it’s not a secret that Mr. Zayat likes to bet,” he said recently. “So when you’re gambling, there’s always somebody out there.”

Through it all, Zayat moves forward. With his wife and four children – all Orthodox Jews – the self-proclaimed entrepreneur has spent tens of millions building his 10-year-old stable.