Oilers owner Daryl Katz buys most costly residence ever sold in LA

Oilers owner Daryl Katz has an estimated net worth of $2.9 billion. (The Canadian Press/Jason Franson)

The Edmonton Oilers may be struggling right now, but their filthy active owner definitely isnt.

Daryl Katz has reportedly just purchased the most expensive residence ever (yes, ever) sold in Los Angeles or Malibu  where some of the worlds most busy entertainment and tech titans reside. The billionaire paid $120 million for the six-acre, 20,000 square-foot Malibu mansion, making it the priciest quarters ever sold in the place, according to TMZ.

The house transaction is blinking into two increments: $85 million for the in flames itself and $35 million for all the contents contained in the address, TMZ declared, citing valid perch sources. Katz has reportedly been leasing the property and estate for a mind-blowing $750,000 per month.

The Edmonton original gained his fortune in the pharmacy industry, primarily as the owner of Rexall in Canada and of Snyders Drug Store and Drug Emporium in the United States. His estimated net worth according to Forbes is $2.9 billion, making him the 12th-wealthiest Canadian.

Good situation the city of Edmonton was competent to pay for hundreds of millions of dollars to fund the Oilers subsidiary sports ground, eh?

Read the full article