How Joliestar’s owner Brendan Lindsay went from nothing to selling his business for $660m and buying Cambridge Stud

There was a time when Brendan Lindsay didn’t know where his next dollar would come from. Now, he is the owner of Cambridge Stud as his flagship mare Joliestar chases a third Group 1 win on Saturday.

Cambridge Stud owner Brendan Lindsay will be at Eagle Farm on Saturday to cheer on his superstar mare Joliestar but he vividly remembers how he was once so broke that he slept in his car.

New Zealander Lindsay didn’t know where his next dollar was coming from when he was making plastic coat hangers in a downtrodden garage in Cambridge several decades ago.

Fast forward to 2016 and Lindsay sold his plastics business for $660m.

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With wife Jo, he then took a major gamble when buying legendary Cambridge Stud from Sir Patrick Hogan the following year.

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Joliestar, who races in the Cambridge Stud black and gold chequers, is one of the flag-bearers of his operation as a two-time Group 1 winner, including scoring the famed Newmarket Handicap down the Flemington straight in March.

The Chris Waller-trained mare is set to start as favourite for the Group 1 Kingsford Smith Cup on Saturday and seems poised to have another crack at The Everest later this year after being luckless in the $20m race in 2024.

It’s a far cry from how Lindsay started out.

“I can assure you, I didn’t know where my next dollar was coming from,” Lindsay told Racenet.

Brendan Lindsay with James McDonald after Joliestar won the Thousand Guineas in 2023. Picture: Racing Photos via Getty Images

“We started in a garage at home, we had tarpaulins on the side of the garage because I couldn’t put padding on the outside.

“We just didn’t have any money.

“Honestly, I would go away on selling trips and sleep in the back of the car.

“When you do get a little bit of money, racing is a passion.

“Some folks race cars, some race boats, we race horses.

“Racing is addictive.

“The highs and lows of racing are just so massive.

“There was the high of going to The Everest with Joliestar and then coming home empty-handed.

“For me that's part of the enjoyment of it, if it was easy then everyone would be doing it.

“I always take the view when we get beaten that it’s someone’s else turn, good luck to them.”

Joliestar romped home in the Newmarket Handicap at Flemington in March. Picture: Racing Photos via Getty Images

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Lindsay says buying the iconic Cambridge Stud was a bold step into the unknown because, even though he had owned horses for 15 years, he isn’t a “horse person”.

“I'd never ridden horses. I've never led a horse. Yes, we like horses, but I don’t know how to foal a horse down,” Lindsay said.

“I wasn't brought up on a (stud) farm, it was a massive gamble because it was a huge learning adventure.”

Lindsay will be in a corporate box at Eagle Farm as he watches Joliestar try to reel off her third career Group 1.

He has indicated the star four-year-old is likely to race on for another 12 months before a boom breeding career beckons.

He gave an insight into how Joliestar, who he parted with $950,000 to purchase as a yearling in 2022, has added another fabulous chapter to the Cambridge Stud story.

“Annabel Archibald once said to me, there’s nothing like your colours racing in Australia because people recognise the yellow and black colours as being your Cambridge Stud brand,” Lindsay said.

Joliestar too good in the Newmarket Handicap! 🏆@[e-mail]/wvIssTJSPz

— 7HorseRacing 🐎 (@7horseracing) March 8, 2025

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“Annabel doesn’t train any horses for us, but I thought it was quite an interesting thing to say.

“From our point of view, you want to race horses in Australia because it is like competing at the Olympic Games.

“From a business point of view it’s fantastic, racing at the elite level against the best horses in Australia and having your colours on show and promoting your business that way, it’s free advertising really.

“We always knew we had a pretty good horse on our hands, but to win a Group 1 down the straight at Flemington in commanding fashion was pretty special.

“We are thinking we will race her on next season because The Everest last year was such a disappointment.

“We didn’t get best of rides that day, and I've always felt that race is one you always want to have on your calendar.” 

Joliestar, with James McDonald to ride, has drawn barrier 13 in the Kingsford Smith Cup and is the $3 favourite.

Originally published as How Joliestar’s owner Brendan Lindsay went from nothing to selling his business for $660m and buying Cambridge Stud