He was bred by Dr. James Russell at Bansha Castle, County Tipperary in Ireland.

He then won the Grand Prix de Saint-Cloud against older horses and finished fourth in the inaugural Benson & Hedges Gold Cup in which Roberto beat the celebrated Brigadier Gerard.

The following year, Rheingold won the Prix Ganay, and finished second in the King George VI and Queen Elizabeth Stakes to the great French filly, Dahlia.

He won his second straight Grand Prix de Saint-Cloud under jockey Yves Saint-Martin and in the autumn defeated the future French Horse Racing Hall of Fame filly Allez France to win the Prix de l'Arc de Triomphe under Lester Piggott, who was winning the race for the first time.

Among his progeny, he was the sire of two-time Ascot Gold Cup winner, Gildoran and Noir et Or whose wins included the Grade I Grand Prix Prince Rose and Prix du Conseil de Paris.