Daryl Katz
Encyclopedia
Daryl Allan Katz is a Canadian businessman, philanthropist, and arts patron. With an estimated net worth of $US 2.0 billion (as of March 2011), Katz was ranked by Forbes
as the 16th wealthiest Canadian and 595th in the world. The Edmonton
-based Katz is chairman and chief executive officer
of The Katz Group, Canada's leading drug store operators with over 1,800 stores and owns and operates the nation's only mail order
pharmacy business, Meditrust Pharmacy Inc., one of Canada's largest institutional pharmacy operations, as well as the owner of the Edmonton Oilers
. Katz is a former lawyer
. He currently resides in Edmonton, Alberta
.
is reported at C$2.43 Billion which makes him the 17th richest person in Canada. Through the Katz Group, he has business interests in retail pharmacies, pharmaceutical distribution, multiple sports teams, event production, and property development. The Katz Group also has naming rights to Rexall Place
(Edmonton's NHL Hockey Arena).
Katz reportedly maintains a small circle of highly paid advisers who run Katz Group. Rexall Pharmacy is run from Ontario, while other subsidiaries of Katz group maintain private headquarters separate from Katz Group itself.
Through Rexall Sports - the sports division of the Katz Group - Daryl Katz owns four sports franchises.
In May 2007, Katz made a $145-million bid to buy the Edmonton Oilers
franchise, which the owners of the team, the Edmonton Investors Group (EIG), quickly rejected, stating the team was not for sale.
In July 2007, he made another bid for the Oilers of $185-million, which was turned down by the Edmonton Investment Group (EIG) on August 7, 2007. On December 12, 2007, Katz made an offer of $188-million to the EIG. The Board of the EIG announced in January 2008 that it would again recommend to its shareholders to reject this latest bid.
On January 28, 2008, Katz increased his offer to $200 million and extended the acceptance deadline to February 5, 2008, at which time Katz was notified by the EIG that all its members agreed to sell the Oilers to him, pending league and financial approval. On June 18, 2008, Daryl Katz received the final OK from the National Hockey League to purchase the Edmonton Oilers, and then on July 2, 2008, he was officially announced as the owner of the Edmonton Oilers during a Press Conference at Rexall Place, where he was presented with an Edmonton Oilers Jersey with the number "08" and his last name patched onto the back.
Katz has hired a team of architects, engineers, consultants, and promoters to develop a plan for a new arena for the Oilers. Through a subsidiary of Katz Group, land in downtown Edmonton has been purchased. Katz envisions a sports and entertainment district. He has proposed to spearhead private development of condos, hotels, and entertainment venues in this area. Debate over government funding for the arena project is ongoing in Edmonton, but city council has approved the deal pending funding from either the Province, or a Community Revitalization Levy.
, receiving both a bachelor's degree and a law degree. In 1990 he founded the Katz Group, which is well known for many pharmacies (Rexall Drugstores, Herbies/Payless,Pharma Plus Drugmarts, IDA, Guardian and Medicine Shoppe).
In 2009 Katz donated $20 Million to Mount Sinai Hospital in Toronto and founded The Daryl A Katz Centre For Urgent And Critical Care.
Katz has also given "millions" to the Stollery Children's hospital in Edmonton, as well as supporting public events.
Between 2005 and 2010, Katz and his wife have donated "over $50 million" to organizations and institutions across Canada.
at 4 Valleyview Point in the Parkview neighbourhood
, is one of the largest houses in Edmonton at 25000 square feet (2,322.6 m²), and estimated to be worth C$20 million. The property overlooks the North Saskatchewan river valley
, Hawrelak Park, and the downtown city skyline and is easily visible and instantly recognizable from the river valley's many trails. The great room
is clad floor-to-ceiling in 90 kilograms (198.4 lb) blocks of ancient Italian limestone
and with 9 metres (29.5 ft)-high windows framing a view of downtown. The property also features two swimming pools. For his kids, Katz bought the multi-million dollar house next to his, demolished it, and built a practice hockey rink.
Katz also owns homes in the US and British Columbia, one of them reportedly a near carbon copy of his Edmonton home.
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
as the 16th wealthiest Canadian and 595th in the world. The Edmonton
Edmonton
Edmonton is the capital of the Canadian province of Alberta and is the province's second-largest city. Edmonton is located on the North Saskatchewan River and is the centre of the Edmonton Capital Region, which is surrounded by the central region of the province.The city and its census...
-based Katz is chairman and chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of The Katz Group, Canada's leading drug store operators with over 1,800 stores and owns and operates the nation's only mail order
Mail order
Mail order is a term which describes the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote method such as through a telephone call or web site. Then, the products are delivered to the customer...
pharmacy business, Meditrust Pharmacy Inc., one of Canada's largest institutional pharmacy operations, as well as the owner of the Edmonton Oilers
Edmonton Oilers
The Edmonton Oilers are a professional ice hockey team based in Edmonton, Alberta, Canada. They are members of the Northwest Division in the Western Conference of the National Hockey League ....
. Katz is a former lawyer
Lawyer
A lawyer, according to Black's Law Dictionary, is "a person learned in the law; as an attorney, counsel or solicitor; a person who is practicing law." Law is the system of rules of conduct established by the sovereign government of a society to correct wrongs, maintain the stability of political...
. He currently resides in Edmonton, Alberta
Alberta
Alberta is a province of Canada. It had an estimated population of 3.7 million in 2010 making it the most populous of Canada's three prairie provinces...
.
Facts and figures
Daryl Katz' net worthNet worth
In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time...
is reported at C$2.43 Billion which makes him the 17th richest person in Canada. Through the Katz Group, he has business interests in retail pharmacies, pharmaceutical distribution, multiple sports teams, event production, and property development. The Katz Group also has naming rights to Rexall Place
Rexall Place
Rexall Place is an indoor arena in Edmonton, Alberta, Canada situated on the north side of Northlands. It is currently the home to the Edmonton Oilers of the National Hockey League, the Edmonton Rush of the National Lacrosse League and the Edmonton Oil Kings of the WHL...
(Edmonton's NHL Hockey Arena).
Katz reportedly maintains a small circle of highly paid advisers who run Katz Group. Rexall Pharmacy is run from Ontario, while other subsidiaries of Katz group maintain private headquarters separate from Katz Group itself.
Through Rexall Sports - the sports division of the Katz Group - Daryl Katz owns four sports franchises.
In May 2007, Katz made a $145-million bid to buy the Edmonton Oilers
Edmonton Oilers
The Edmonton Oilers are a professional ice hockey team based in Edmonton, Alberta, Canada. They are members of the Northwest Division in the Western Conference of the National Hockey League ....
franchise, which the owners of the team, the Edmonton Investors Group (EIG), quickly rejected, stating the team was not for sale.
In July 2007, he made another bid for the Oilers of $185-million, which was turned down by the Edmonton Investment Group (EIG) on August 7, 2007. On December 12, 2007, Katz made an offer of $188-million to the EIG. The Board of the EIG announced in January 2008 that it would again recommend to its shareholders to reject this latest bid.
On January 28, 2008, Katz increased his offer to $200 million and extended the acceptance deadline to February 5, 2008, at which time Katz was notified by the EIG that all its members agreed to sell the Oilers to him, pending league and financial approval. On June 18, 2008, Daryl Katz received the final OK from the National Hockey League to purchase the Edmonton Oilers, and then on July 2, 2008, he was officially announced as the owner of the Edmonton Oilers during a Press Conference at Rexall Place, where he was presented with an Edmonton Oilers Jersey with the number "08" and his last name patched onto the back.
Katz has hired a team of architects, engineers, consultants, and promoters to develop a plan for a new arena for the Oilers. Through a subsidiary of Katz Group, land in downtown Edmonton has been purchased. Katz envisions a sports and entertainment district. He has proposed to spearhead private development of condos, hotels, and entertainment venues in this area. Debate over government funding for the arena project is ongoing in Edmonton, but city council has approved the deal pending funding from either the Province, or a Community Revitalization Levy.
Education
Daryl Katz attended Jasper Place Composite High School in 1980. studied at the University of AlbertaUniversity of Alberta
The University of Alberta is a public research university located in Edmonton, Alberta, Canada. Founded in 1908 by Alexander Cameron Rutherford, the first premier of Alberta and Henry Marshall Tory, its first president, it is widely recognized as one of the best universities in Canada...
, receiving both a bachelor's degree and a law degree. In 1990 he founded the Katz Group, which is well known for many pharmacies (Rexall Drugstores, Herbies/Payless,Pharma Plus Drugmarts, IDA, Guardian and Medicine Shoppe).
Philanthropy
In October 2006 Katz announced a $7 million donation to the University of Alberta Faculty of Pharmacy and Pharmaceutical Sciences and Faculty of Law. Matched by the province, the gift was the largest donation ever to a Canadian pharmacy school. The west wing of the Health Research Innovation Facility at the corner of 87th Avenue and 114th Street in Edmonton has been named The Katz Group Centre for Pharmacy and Health Research.In 2009 Katz donated $20 Million to Mount Sinai Hospital in Toronto and founded The Daryl A Katz Centre For Urgent And Critical Care.
Katz has also given "millions" to the Stollery Children's hospital in Edmonton, as well as supporting public events.
Between 2005 and 2010, Katz and his wife have donated "over $50 million" to organizations and institutions across Canada.
Home
Katz's riverfront mansionMansion
A mansion is a very large dwelling house. U.S. real estate brokers define a mansion as a dwelling of over . A traditional European mansion was defined as a house which contained a ballroom and tens of bedrooms...
at 4 Valleyview Point in the Parkview neighbourhood
Parkview, Edmonton
Parkview is a residential neighbourhood in west Edmonton, Alberta, Canada overlooking the North Saskatchewan River valley. The neighbourhood is informally split into two smaller neighborhoods, with the portion east of 142 Street called Valleyview and the portion west of 142 Street called Parkview...
, is one of the largest houses in Edmonton at 25000 square feet (2,322.6 m²), and estimated to be worth C$20 million. The property overlooks the North Saskatchewan river valley
North Saskatchewan River valley parks system
The North Saskatchewan River valley parks system is a continuous collection of urban parks in the North Saskatchewan River valley of Edmonton, Alberta....
, Hawrelak Park, and the downtown city skyline and is easily visible and instantly recognizable from the river valley's many trails. The great room
Great room
thumb|A great roomThe term great room denotes a room space within an abode which combines the specific functions of several of the more traditional room spaces into a singular unified space...
is clad floor-to-ceiling in 90 kilograms (198.4 lb) blocks of ancient Italian limestone
Limestone
Limestone is a sedimentary rock composed largely of the minerals calcite and aragonite, which are different crystal forms of calcium carbonate . Many limestones are composed from skeletal fragments of marine organisms such as coral or foraminifera....
and with 9 metres (29.5 ft)-high windows framing a view of downtown. The property also features two swimming pools. For his kids, Katz bought the multi-million dollar house next to his, demolished it, and built a practice hockey rink.
Katz also owns homes in the US and British Columbia, one of them reportedly a near carbon copy of his Edmonton home.