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Qatar's Sheikh Fahad al Thani is suitably humble when he is reminded that members of other middle-eastern royal families have been trying to win the Melbourne Cup for a dozen or so years.

But not too humble to claim a piece of the credit for the win of Dunaden who claimed Australia's greatest horse race at his owner's first attempt.

While Dunaden claimed victory in the $6 million race, Modun, who is owned by the ruler of Dubai, Sheikh Mohammed al Maktoum, finished last of the 23 runners. The other Godolphin runner Lost In The Moment was sixth.

Since 1998 Sheikh Mohammed has sent 40 horses to Australia in a bid to win the Cup only to come up short on every trip.

"He deserves it more than me," Sheikh Fahad said. "I hope he wins it when I don't."

"I am not stealing his thunder. Sheik Mohammed has been a great help to me, I look up to what he has been able to achieve in racing around the world."

"I'm sure he will win this race one day."

The 22-year-old Sheikh Fahad, 22 began investing millions in racing in the last 18 months and now has a team of 50 horses. He personally chose Dunaden as a Melbourne Cup prospect, despite opposition from other members of his entourage.

The Sheikh revealed that the Ascot Gold Cup had been the favoured target of his racing manager David Redvers after Dunaden showed himself to be a capable horse.

"But I put my foot down and said we would go to the Melbourne Cup," he said.

"The Melbourne Cup is one of the biggest races in the world but it's a handicap and I wanted to save his handicap.

"We can run in the Ascot Gold Cup next year."

Like Sheikh Mohammed, who has named his Godolphin and Darley racing operations after Arabian stallions who formed the foundation of the thoroughbred breed, Sheikh Fahad has an abiding bond with horses.

"For people from the Gulf, it is in our blood," he said.

"But I didn't like the races for Arabian horses, so I became interested in the thoroughbreds."

After winning the Melbourne Cup, it is safe to say he is a lot more interested.