The fire at Mount Hope Training Center also caused hundreds of thousands of dollars in damages.
The fire started Saturday around 3 a.m. and was fully engaged by the time firefighters arrived.
Investigators believe the fire could have started by lightning or water in an electrical socket from the heavy rains.
The horses were removed and buried over the weekend.
The 63-acre facility is known among local equestrians and featured 230 stalls and a half-mile of track.
A GoFundMe page has been started for the trainers affected by the fire.