LOUISVILLE, Ky. — When Mage won the Kentucky Derby, so did hundreds of co-owners who bought shares of the horse through the Commonwealth app.
Patrick Bove bought 50 shares of Mage through the Commonwealth app. He was at Churchill Downs to watch Mage win Kentucky Derby 149.
“When you have an experience like this, you are just floating. You can’t believe it. It’s a dream come true on so many levels,” said Bove.
For $50 per share, people could own part of a Kentucky Derby winner. It’s a surreal experience Bove is still processing.
He got to go out to the Winner’s Circle and get a big group picture with Mage’s other connections. He even got a rose from the Garland of Roses and took a picture with the trophy.
“To think you can have all of that for, you could have bought in for $50. I put in $2,500 because I was the higher-level membership, but still. For that kind of experience, you can’t even get a good seat at the Derby sometimes for $2,500 bucks,” said Bove.
He’s always had a passion for horses, even working in the equine industry for a decade.
“I felt like working in the business, I could never afford to own a racehorse. I felt like someone who was working in a factory building BMWs, but could never afford to own one,” said Bove.
He left the business in 2006, but kept the dream alive.
“I was always hopeful we would find a way back. These partnerships have made it practical for more people. It’s a wonderful thing,” Bove said.
He tells us the Derby payout for Commonwealth investors came out to around $92 per share. With 50 shares, he’s looking at around $4,600. However, he said this is about so much more than the money.
“Forget the money. I would give that back in a heartbeat to have that experience. It’s worth every penny and then some,” said Bove.
He’s still on cloud nine from the Kentucky Derby, and is hoping Mage is healthy enough to run in the Preakness.