Terry Pegula Net Worth: Why is Terry Pegula rich?

Terrence Michael Pegula (born March 27, 1951) is an American billionaire businessman and petroleum engineer. He is the owner of Pegula Sports and Entertainment which owns the Buffalo Sabres of the National Hockey League (NHL) and, with his wife Kim Pegula, the Buffalo Bills of the National Football League (NFL).

Why is Terry Pegula rich?

Terry Pegula made a fortune in oil and gas and has since turned it into a sports empire that includes the Buffalo Bills and Buffalo Sabres.
His oil and gas outfit, East Resources, sold the bulk of its assets to Royal Dutch Shell for $4.7 billion in 2010. He bought the Sabres the next year for $189 million and in 2014 outbid groups led by Donald Trump and Bon Jovi to pick up the Bills for $1.4 billion.
A former math major, Pegula switched to petroleum engineering on a scholarship and joined Getty Oil after graduation.

Terry Pegula’s net worth

According to Bloomberg, Pegula had a net worth of over $7 billion as of July 2021.

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