Daryl Katz

Early life and education

Daryl Allan Katz was born in Edmonton, Alberta in 1961 into a family with deep roots in the pharmacy business. His father was a pharmacist who co-founded the Value Drug Mart chain in Edmonton during the 1970s. Katz received his elementary education at the Edmonton Talmud Torah day school before attending and graduating from Jasper Place High School. He then enrolled at the University of Alberta, where he earned an arts degree in 1982 followed by a law degree in 1985. After being called to the bar, Katz briefly practiced corporate and franchise law at the firm Shoctor, Mousseau, and Starkman before starting his own legal practice, laying the professional groundwork for his future entrepreneurial ventures.

Building a pharmacy empire

Katz's entry into the pharmacy sector began in 1991 when, in partnership with his father, he paid $300,000 for the Canadian rights to the American Medicine Shoppe franchise. The following year, he opened the first Canadian Medicine Shoppe store and formally established the Katz Group of Companies as the holding entity for his growing business interests. A major expansion occurred in 1996 with the purchase of the historic but struggling Rexall drugstore chain, which then consisted of only several dozen locations. The empire grew rapidly, and by 1998 the Katz Group operated 80 Rexall stores, 30 Medicine Shoppe outlets, and several independent retailers.

Further consolidation came in 1997 with the $100 million acquisition of the 143-store Pharma Plus chain from the Oshawa Group. Katz also ventured into the United States market, purchasing the Minnesota-based Snyder's Drug Store chain in 1999 and the Drug Emporium discount chain in 2001. The US expansion met with challenges, as the Snyder's chain filed for bankruptcy in 2003 and its 25 stores were sold to Walgreens. Back in Canada, Katz secured naming rights to the Rexall Centre tennis complex at York University in 2004 for a ten-year term. A significant divestiture began in January 2012 when he sold Drug Trading Co. and Medicine Shoppe Canada to McKesson Corporation for $1.2 billion, followed by the sale of his entire approximately 460-outlet pharmacy network to McKesson in 2016 for C$3 billion.

Acquisition of the Edmonton Oilers and OEG

Katz's passion for his hometown hockey team led to a determined, multi-year effort to purchase the Edmonton Oilers. His initial bid of $145 million in May 2007 was rejected by the Edmonton Investors Group (EIG), which stated the team was not for sale. He increased his offer to $185 million in July and to $188 million in December 2007, with the EIG board recommending rejection each time. In January 2008, Katz raised his offer to $200 million and extended a deadline to February 5, at which point the EIG membership agreed to sell pending league approval. The National Hockey League granted its approval on June 18, 2008, and Katz was officially introduced as the new owner at a press conference at Rexall Place on July 2, 2008, where he was presented with an Oilers jersey bearing the number 08.

To manage his sports and entertainment assets, Katz formed the Oilers Entertainment Group (OEG) in June 2014, appointing Bob Nicholson as Vice-Chairman. OEG was established as a comprehensive sports and entertainment company to operate Rogers Place and oversee the Katz Group's holdings in this sector. In addition to the Oilers, OEG owns and operates the Edmonton Oil Kings of the Western Hockey League and the American Hockey League's Bakersfield Condors, as well as the film production company Aquila Productions. Nicholson was named CEO of OEG in April 2015, responsible for both business and hockey operations. A brief foray into film production through a partnership with Joel Silver's Silver Pictures Entertainment, launched under the OEG umbrella in April 2015 to develop feature films and television, was dissolved in 2019 with Silver Pictures continuing under Hal Sadoff.

Rogers Place and the ICE District

Katz has stated that a primary motivation for buying the Oilers was to catalyze the revitalization of Edmonton's downtown core through a new arena. After extensive negotiations and public consultation, the Katz Group and the City of Edmonton agreed to a public-private partnership to build Rogers Place. The city retained ownership of the building, funded through a Community Revitalization Levy described as not resulting in cost to taxpayers, while the Katz Group secured the long-term operating rights. Construction began in March 2014, and the arena opened in September 2016. It was marketed as a state-of-the-art, year-round venue featuring Ford Hall, a 24,000 square foot grand entrance that doubles as programmable public and private space.

The development ambitiously expanded beyond the arena into the Edmonton Arena District, formally renamed the ICE District on July 13, 2015. Envisioned as one of Canada's largest mixed-use sports and entertainment developments, the ICE District was planned to cover 25 contiguous acres of downtown Edmonton at a total projected cost of approximately $2.5 billion. In 2014, it was announced that the City of Edmonton and the architecture firm Stantec would be the anchor tenants of the project's two office towers. The Stantec tower, at 69 stories, is set to be the tallest building in Edmonton upon completion. The master plan for the district included several major components.

• A 50,000 square foot public plaza for gatherings and events.
• Two major office towers, with the City of Edmonton and Stantec as announced anchor tenants.
• A JW Marriott Hotel to accommodate visitors and events.
• A Gateway casino and over 270,000 square feet of retail space.
• More than 1,000 luxury condominium and rental apartment units.

The Katz Group created ICE District Properties in partnership with ONE Properties. This development is part of the larger Ice District, which is one of Canada's largest mixed-use sports and entertainment developments. The Ice District was planned to cover 25 contiguous acres of downtown Edmonton. It features a public plaza, office towers, a hotel, a casino, luxury condos, and retail space. The development aims to revitalize Edmonton's downtown core and attract visitors.

Philanthropy and public service

Daryl Katz has been a significant philanthropic donor, particularly in the fields of education and healthcare. In October 2006, he announced a $7 million donation to the University of Alberta's Faculty of Pharmacy and Pharmaceutical Sciences and Faculty of Law. When matched by provincial funds, this gift became the largest donation ever to a Canadian pharmacy school, leading to the naming of the Katz Group Centre for Pharmacy and Health Research within the university's Health Research Innovation Facility. In 2009, he donated $20 million to Toronto's Mount Sinai Hospital to found The Daryl A Katz Centre for Urgent and Critical Care. Katz has also given millions to the Stollery Children's Hospital in Edmonton and supported various public events. Between 2005 and 2010, Katz and his wife donated over $50 million to organizations and institutions across Canada.

Beyond philanthropy, Katz has contributed to public governance in Alberta. He was appointed by the provincial government to serve as a director on the inaugural board of the Alberta Investment Management Corporation (AIMCo) from its founding in 2007 until 2013. He has also been a member of the Canadian Council of Chief Executives and co-chaired the University of Alberta's landmark Campaign 2008 fundraising drive, which was the largest in the university's history at that time. In 2003, he was appointed to the Premier’s Council of Alberta’s Promise, an organization focused on improving outcomes for the province's children and youth. His philanthropic and community efforts were recognized in 2017 when he was profiled among 40 prominent Jewish Canadians in honour of Canada's 150th birthday.

Personal life, health and legal matters

Daryl Katz is married to Renee Gouin, the daughter of Jean Yvon Gouin, who founded the North American Construction Group, one of Canada's largest mining and heavy construction companies. The couple has twin adult children, Chloe and Harrison, who founded the nonprofit organization Hockey Helps Kids. Katz's net worth has grown substantially alongside his business successes. According to Forbes, his estimated wealth rose from $3.1 billion in 2018 to $4.5 billion in 2022, then to $5.8 billion in 2025, and reached $7.2 billion in 2026. This placed him at number 542 on the global billionaires list in 2026, a leap of 63 spots from the previous year, attributed to the value of his pharmacy business legacy and the diversified assets of the Katz Group.

In 2019, the Oilers Entertainment Group confirmed that Katz had been suffering from a life-threatening, antibiotic-resistant bacterial sinus infection. Reports indicated he carried an IV bag during the Oilers' 2017 playoff run and underwent three surgeries over ten months to combat the infection, which carried a 50-50 survival rate, and that his prognosis was positive. Katz has also been the subject of legal allegations. In early 2017, a Brazilian actress and model accused him of offering money for sexual favours, an allegation he did not publicly address. In July 2022, defendants in an unrelated US civil suit filed a counterclaim alleging Katz paid one of the plaintiffs $75,000 for sexual favours, which the plaintiff denied. The couple who made the 2022 allegations voluntarily withdrew them in August 2022 and issued an apology, requesting the court strike the references from the record.

Business holdings and corporate structure

The Katz Group of Companies serves as the overarching holding company for Daryl Katz's diverse business interests, which have evolved significantly over decades. While the pharmacy divestiture in 2016 marked a major shift, the group retains substantial assets in other sectors. A central entity within the structure is Oilers Entertainment Group, which in 2022 was rebranded as OEG Sports & Entertainment (OEGSE). OEGSE is described as a North American leader in sports, entertainment, real estate, and hospitality, managing the core assets associated with Katz's Edmonton projects and representing most of his current business enterprises.

The primary business platforms under the Katz Group and OEGSE umbrella include several key areas. Real estate development and ownership is a major focus, centred on the ICE District and other properties, with Katz having built one of Canada's largest privately-owned real estate development companies. Sports and entertainment operations encompass the Edmonton Oilers, Edmonton Oil Kings, Bakersfield Condors, and the management of Rogers Place. Investments in hospitality and restaurants are part of the portfolio, complementing the developments in the ICE District. Katz reportedly retains a small circle of highly paid executives to run the Katz Group, with subsidiaries like Rexall Pharmacy operating from Ontario under separate private headquarters. This structure allows Katz to oversee a vertically integrated model where sports franchises drive entertainment and real estate value, creating a synergistic business ecosystem.

Wealth trajectory and public profile

The growth of Daryl Katz's personal fortune has been tracked closely by financial publications, reflecting the performance of his private holdings. Forbes magazine has provided annual estimates that show a steady climb with notable recent increases. His wealth was listed at $3.1 billion in both 2018 and 2019, rising to $3.2 billion in 2020 and $3.6 billion in 2021. It jumped to $4.5 billion in 2022 before a slight dip to $4.3 billion in 2023. A significant surge began in 2024 with an estimate of $5 billion, followed by $5.8 billion in 2025, culminating in the $7.2 billion valuation for 2026. This $7.2 billion figure represented an increase of $1.4 billion from the previous year and placed him as the 542nd richest person in the world on the 2026 list, which included a record 3,428 billionaires with a combined wealth of $20.1 trillion.

Katz's public profile is intrinsically linked to the Edmonton Oilers, and the team's performance can have a direct financial impact on his operations. Analysis has noted that a short playoff run, such as the Oilers' exit after only three home games in the first round of a recent postseason, represents a lost financial opportunity described as a disappearing playoff cash cow. Despite such annual fluctuations, his overall asset base in real estate and diversified holdings provides substantial stability. His standing as a prominent Canadian business leader is cemented by his role in creating landmark developments and his historic acquisition of a flagship NHL franchise, ensuring his continued recognition as a central figure in Alberta's business and civic life.

Questions about Daryl Katz

How did Daryl Katz make his money?

Daryl Katz built his initial fortune in the pharmacy sector. Starting with the Canadian rights to the Medicine Shoppe franchise in 1991, he aggressively expanded by acquiring the Rexall chain in 1996 and the Pharma Plus chain in 1997. He built one of Canada's largest integrated pharmacy businesses, which by 1998 included 80 Rexall and 30 Medicine Shoppe stores, before selling his entire network of approximately 460 stores to McKesson Corporation in 2016 for C$3 billion. His wealth has since been amplified by his diversified holdings in real estate development, sports ownership through the Edmonton Oilers, and the operations of the Oilers Entertainment Group.

How much is Daryl Katz worth?

According to the Forbes World's Billionaires list for 2026, Daryl Katz's net worth is estimated at US$7.2 billion. This represents a significant increase from previous years, such as $4.3 billion in 2023 and $5.8 billion in 2025, and placed him at number 542 globally in 2026. His wealth is derived from his remaining business interests in the Katz Group of Companies, including real estate, sports, and entertainment assets. The 2026 figure marked a jump of 63 spots on the list from the prior year.

Does Daryl Katz still own the Edmonton Oilers?

Yes, Daryl Katz remains the owner of the Edmonton Oilers National Hockey League franchise. He purchased the team in 2008 for $200 million after a prolonged bidding process against the Edmonton Investors Group. The Oilers are now the flagship asset of his Oilers Entertainment Group (OEG), which he founded in 2014 to manage his sports and entertainment holdings. OEG also owns the WHL's Edmonton Oil Kings, the AHL's Bakersfield Condors, and the production company Aquila Productions.

What is the ICE District in Edmonton?

The ICE District is a massive mixed-use sports and entertainment development in downtown Edmonton, spearheaded by Daryl Katz and the Katz Group. Centred around Rogers Place arena, it covers 25 acres and includes office towers, a JW Marriott hotel, a casino, retail space, luxury condos, and a large public plaza. Originally called the Edmonton Arena District, it was renamed the ICE District in July 2015. The project, developed in partnership with ONE Properties, has an estimated cost of $2.5 billion and is designed to be one of Canada's largest developments of its kind.

What philanthropic work is Daryl Katz known for?

Daryl Katz is known for multimillion-dollar donations to education and healthcare. In 2006, he gave $7 million to the University of Alberta's pharmacy and law faculties, the largest gift ever to a Canadian pharmacy school at the time, leading to the naming of the Katz Group Centre for Pharmacy and Health Research. In 2009, he donated $20 million to Toronto's Mount Sinai Hospital to establish The Daryl A Katz Centre for Urgent and Critical Care. He and his wife have also donated millions to the Stollery Children's Hospital in Edmonton and, between 2005 and 2010, gave over $50 million to various Canadian institutions.

What is Daryl Katz's connection to Alberta's government?

Daryl Katz served in a public governance role for the Province of Alberta. He was appointed to the inaugural board of directors of the Alberta Investment Management Corporation (AIMCo), the province's sovereign wealth fund manager, serving from its creation in 2007 until 2013. This role involved helping to oversee the management of billions of dollars in public sector pension and endowment funds. He was also appointed to the Premier’s Council of Alberta’s Promise in 2003, focusing on initiatives for children and youth.

Sources and further reading

• Daryl Katz (Wikipedia)
• Daryl Katz (darylkatz.com)
• Oilers owner Daryl Katz's wealth explodes on Forbes 2026 ... (dailyhive.com)
• Daryl Katz, Founder and Chairman, DAK Holdings (dakholdings.ca)
• Daryl Katz: Edmonton Oilers owner and business leader (thecjn.ca)

Checked by the Yadude Books desk. Last updated 2026-10-26.