He's a steeplechace racehorse from Australia who fell on a jump while racing and broke his neck.
Grand campaigner Clearview Bay (AUS), winner of the 2008 Grand Anual Steeplechase fell at the 4th last fence and broke his neck, he died alomst instantly, 7th of May 2009.
In some cases yes, because owners push their horses too far without knowing each horse's limitations, just for money. On the other hand, some horses love to steeple chase- they love to win- all horses are different in their personalities and while some get pushed too hard by money-mad owners, others push themselves with their desire to win.