It’s been a lucrative year for Edmonton Oilers owner Daryl Katz, who has reportedly added more than $1.5 billion to his fortune.
Maclean’s magazine just released its list of Canada’s 40 wealthiest people, and Katz ranked 28th with an estimated net worth of $7.4 billion.
The magazine says it compiled its annual list using public records, private company valuations and some confidential information.
Darylkatz.com
Katz’s wealth is up from last year, when he was listed 29th with an estimated $5.84 billion, an increase of about $1.56 billion.
Born and raised in Edmonton, Katz made his fortune by expanding the Rexall drugstore brand, which he grew into one of Canada’s largest pharmacy chains before selling it for $2.9 billion in 2016. He purchased the Edmonton Oilers in 2008, later developing the ICE District through his company, Oilers Entertainment Group Inc.
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Earlier this year, OEG signed a memorandum of understanding with the City of Edmonton and the Alberta government to expand the ICE District. The first phase was a $2.5-billion, 25-acre development that includes dining, shopping and entertainment spaces around Rogers Place.
The next phase will add 140,000 square feet of event space, as well as a housing development with green space and about 2,500 residential units.
In April, Katz was also featured on Forbes’ billionaire list, which reported that he had added $800 million to his fortune in the past year.
You can check out Maclean’s magazine list of Canada’s 40 wealthiest people online.