Almandin, ridden by Australian Kerrin McEvoy, has won the 156th running of the Melbourne Cup, Australia’s most popular horse race.
It was McEvoy’s second Melbourne Cup win, after first winning with Brew in 2000. He said it was “a dream come true.”
Known as the “race that stops a nation”, the cup is the world’s richest two-mile handicap.
Heartbreak City came in second and race favourite Hartnell in third.
A crowd of more than 100,000 was expected to be at the Flemington Racecourse for the race.
The race is Australia’s richest, drawing a deep field of talent from home and aboard to compete for the A$3.6m (£2.25; $2.75m) prize.
Almandin is owned by Australian property magnate Lloyd Williams. The win makes him most successful owner in the history of the Melbourne Cup, with five wins to his name.
He said he was “quite emotional” about the result and praised his team for helping Germany-based horse Almandin recover from a damaged tendon.
“We have got a great staff up there. Super what they’ve done with it,” Mr Williams told reporters.
McEvoy thanked Williams for “having faith in me”.
“I feel very privileged to have won my second Melbourne Cup,” he said.
Melbourne Cup 2016: Kerrin McEvoy wins on Almandin}