Originally from New York, Herb Moelis graduated from the Wharton School of the University of Pennsylvania in 1953. He then earned a Law degree and graduate degree (LL.M) in Taxation from New York University Law School in 1956. With this education he established a career as a CPA and Tax Attorney for approximately 30 years, retiring from practice and relocating to Delaware in 1986.
A long-time dream, at CandyLand Farm in Delaware, Herb, together with his wife Ellen, began to breed thoroughbreds from a broodmare band of about 20 mares. They breed for sale at auction and also to race. In 1988 on the advice of pedigree guru, Bob Fierro, they claimed a two year old filly named Redeemer for $20,000. The filly is a decendant of La Troienne and had earned $55,000 as a two year old. Unfortunately, when Redeemer was brought back to the farm she injured herself in a paddock accident and was retired. Shortly after, her half sister, Lite Light came on the scene and the rest is history. One of the first progeny from Redeemer was a colt by Houston who was the top selling colt in the 1993 Saratoga sale.
On the racing front, under the nom de course of Candy Stable, Herb and Ellen have raced either alone or in partnership, 16 stakes winners including Cat Be Nimble, Surely Six, Shapely Scrapper, Dr. Unright, Time To Dream, Five Star Deputy and Scary Bob to name a few.
In 1990 Herb and Ellen, together with their good friend, neighbor and renowned horsewoman, Allaire duPont, initiated the idea of a Stallion Season Auction as a way to raise money to benefit various thoroughbred charities, including horse rescue, education and research. The first auction in 1990 was for the sole benefit of the Thoroughbred Retirement Foundation and was attended by 20 people and raised $15,000. In 1997 Thoroughbred Charities of America (“TCA”) was formed to conduct the auction so the funds could be distributed to the many retirement and rescue groups operating throughout the country.
In addition to TCA, Herb and Ellen established The Moelis Family Foundation which is involved in granting funds to charities involved in medical research, animal welfare, and children’s causes including health and education. This is a family venture designed to introduce the concept of charity to the members of the Moelis family at a young age. The 10 Moelis grandchildren became eligible for the Junior Board of the Moelis Family Foundation at age eight and were then included in all discussions relating to grants.