In London, the world's most foolish rich man lost his multi billion pound fortune by betting on a Rocking Horse to win the Grand National, the most important race in the British racing calendar.
The man, known world wide as Mr 'Give him a chance, he grows on you, or he shoots you' Jones Riley Whipp III, bet the money, believed to be enough to half the debt of the third world, on a Rocking Horse that he has been training since his birth, more than 30 years ago.
Speaking after his defeat, Mr Jones Riley Whipp III said: 'I gave Chester all the love in the world, all the material benefits, and this is how the lazy nag decides to treat me. It is the last time the usual creature lets me down. I will throw him on the fire when I get home.'
When it was revealed to the hopeless fool that the paint which Chester was covered in was dangerous if burnt, he left it to the nearest orphanage.
A journalist who asked him 'So why the long face?' got a swift kick from Jones Tiley Whipp III, but a round of applause from the rest of the crowd.