If Bill Gates keeps this up, he'll be known as the Daniel Snyder of the equestrian world.

Let's hope unlike the Washington Redskins owner, Gates' team actually wins.

The Microsoft founder and chairman is spending $1 million, dating back to October, so his horse-loving daughter can be near an equestrian festival in Palm Beach, Fla.

That includes a reported $600,000 on a six-month lease for a 7,352 square-foot home that comes loaded with eight bedrooms, a wine cellar and more importantly a barn, stables and a special guarded access road. The house is valued at more than $12 million.

Jennifer Gates, 15, is competing in the Winter Equestrian Festival, which wraps up on April 1. The Daily Mail (U.K.) reports the teen daughter of America's wealthiest man is competing in one of the children's jumping divisions.

The festival itself features 5,000 horses and 2,800 riders from almost all of the U.S. (49 states) and 30 countries around the world.

Bill Gates, his wife, Melinda, and their son Rory, 13, all cheered Jennifer on over the weekend.

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The $1 million investment includes renting the Florida home and leasing four elite jumping horses that cost between $50,000 and $75,000 each for Jennifer to ride. And add to that the cash for stables and top notch horse trainer.

The neighborhood includes a home owned by New York Mayor Michael Bloomberg, whose daughter Georgina also competes in equestrian events. Neighbors voiced their excitement in October to Forbes Magazine about the Gates' reported arrival.

The Gates family has been taking private jets between their home in Washington state and the rented mansion in Palm Beach.

Don't feel too bad, though. Gates, worth more than $62 billion, can afford the expensive air travel.

Never known as a big sports fan, Gates had his nose buried deep inside "The Quest" during some of his daughter's latest competition. The book is about the changing role of global energy on the economy.

-- Follow Ben Maller on Twitter @BenMaller.

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