Owner-breeder Leonard Riggio dies at 83

Leonard Riggio, the founder of the Barnes & Noble book-selling chain and a horse owner and board member of the New York Racing Association, died on Tuesday of complications of Alzheimer’s disease, according to a statement from his family. Riggio was 83.

Far more famous for his book-selling endeavors than for his involvement in the racing industry, Riggio entered the racing business in 2001 after his interest was piqued by his wife’s and daughter’s involvement in the show-horse world. After only a handful of years owning Thoroughbreds, he began breeding horses and branched out into the commercial marketplace as well.

By far his greatest success as a breeder was Tapwrit, who won the 2017 Belmont Stakes in Riggio’s hometown while racing for a partnership including Bridlewood Farm, Eclipse Thoroughbreds, and Robert LaPenta. Riggio sold Tapwrit at the Saratoga Fasig-Tipton yearling sale for $1.2 million.

Riggio’s early involvement with the racing industry roughly coincided with an effort by the New York Racing Association to extend its state-granted franchise to run Aqueduct, Belmont, and Saratoga, an effort that led NYRA to reach out to successful businessmen to join its board.

Riggio was first appointed to the board in 2007, one year before NYRA reached a deal with the state legislature that allowed the association to reorganize under bankruptcy protection, obtain shares of gambling revenues from a casino at Aqueduct, and run racing at the tracks through 2033. He remained on the board until 2017, and served as the chair of several of its committees during his tenure.

A native of New York City, Riggio bought a bookstore named Barnes & Noble in midtown Manhattan in 1971 and over the next several decades turned the Barnes & Noble name into the leading brick-and-mortar bookseller in the country. The rise of internet commerce led the company to drastically downsize in the early 2000s, though it has made a significant comeback in recent years. The company was sold to Elliot Advisors in 2019, ending Riggio’s involvement.

According to his family, Riggio is survived by his wife, Louise, three daughters, and four grandchildren.

:: Want to learn more about handicapping and wagering? Check out DRF's Handicapping 101 and Wagering 101 pages.