The association between horses and wealth was forged millennia ago. In fact, the first people known to celebrate hierarchies of power, whose inequalities of wealth were integral to their society and culture—the people you could call the first 1 percent—were the first people to ride horses.
Back then there was a logical reason to own and ride horses. Nowadays what they do to horses to entertain themselves borders on outright cruelty and abuse. Does anyone in their right mind really think that horses enjoy being dressed up and forced to dance around a pit with some human in silly clothing on their back? I'd venture to guess that there's a lot of other things these poor animals would rather be doing.
What's worse is that the people subjecting these horses to this cruelty are supposed to be the upper crust of our society. You would think that over the century or so they would have evolved enough to realize the errors of their ways. Maybe there is something to be said about the dangers of inbreeding?
read more; http://www.slate.com/articles/health_and_science/science/2012/07/horse_owners_are_the_one_percent_how_social_inequality_was_born_.html