Who is Ahmed Zayat and what does he do?
Zayat’s racing operation known as Zayat Stables is embroiled in a complicated legal battle with MGG Investment Group, a New York-based company that loaned Zayat Stables tens of millions of dollars.
When did Ahmed Zayat file for Chapter 7 bankruptcy?
Owner/breeder Ahmed Zayat, who has been entangled in a messy fraud and breach of contract lawsuit with a New York investment firm throughout 2020, filed for Chapter 7 bankruptcy Sept. 8 in his home state of New Jersey.
When did Ahmed Zayat sell American Pharoah breeding rights?
In fact, the suit states, when Ahmed Zayat presented a liquidation proposal to MGG on Dec. 12, 2019, the American Pharoah breeding rights were still listed as assets on the stable’s balance sheet. Six days later, MGG asked Zayat to start selling some of those assets to generate loan repayment money.
How many horses does Ahmed Zayat Stables own?
Zayat Stables owns approximately 200 horses at any one time. Zayat made a number of big-ticket sales purchases early on including a horse he named Maimonides, purchased at Keeneland as a yearling in 2006 for $4.6 million.
https://www.youtube.com/watch?v=reWF7hs_Wcs
He is an Egyptian American entrepreneur with Jewish ancestry, perhaps better known for being the CEO of Zayat Stables, owning thoroughbred race horses and the famed American Pharaoh, the first racehorse to win the Triple Crown since 1978. His business ventures have raised his net worth to where it is today. How rich is Ahmed Zayat?
Where was Ephraim David Zayat born and raised?
Ephraim David Zayat was born on 31 August 1962, in Maadi, Cairo Egypt. He is an Egyptian American entrepreneur with Jewish ancestry, perhaps better known for being the CEO of Zayat Stables, owning thoroughbred race horses and the famed American Pharaoh, the first racehorse to win the Triple Crown since 1978.
Where does Justin Zayat of Zayat Stables live?
Justin, a 2015 graduate of New York University, works closely with his father in the Zayat Stables business. While residing primarily in New Jersey, the Zayats also have residences in New York, Egypt and London.
How old was Ahmed Zayat when he started riding horses?
As a young man, Ahmed Zayat learned to ride horses at the local country club. Zayat competed in show jumping during his early teens, winning national titles as a child in the under-12 and under-14 age divisions. He moved to the United States at the age of 18, and earned an undergraduate degree from Yeshiva University.
How much money does Ahmed Zayat have in bankruptcy?
Instead, it is a way to clear away many types of unsecured debts. In court documents filed with the U.S. Bankruptcy Court obtained by BloodHorse, Zayat disclosed that he owns assets valued at $1,892,815 and is carrying liabilities valued at $19,371,466. He also reported a monthly income of $13,875 against monthly expenses of $72,903.
Who is Ahmed Zayat, owner of American Pharoah?
The case is Ahmed Zayat, 20-20387, U.S. Bankruptcy Court in the District of New Jersey. ( Updates with additional trainer creditor in fifth paragraph.
When did Ahmed Zayat start his horse racing business?
After the company was purchased by Heineken in 2002, Zayat stayed on a few more years but also began investing in racehorses and established Zayat Stables in 2005. Upon returning to the United States for good in 2007, he made his racing stables his full-time occupation, working with his son, Justin, to build the business.
How old was Ahmed Zayat when he started show jumping?
Zayat competed in show jumping during his early teens, winning national titles as a child in the under-12 and under-14 age divisions. He moved to the United States at the age of 18, and earned an undergraduate degree from Yeshiva University. He obtained a master’s degree in public health administration from Boston University.