Who is Terry Pegula?
He is a billionaire from the USA. He was born in March 1951. He is married to Kim. They have 5 children. He was active in the oil and gas industry with his East Resources company. He is active in professional sports.
He owns a sports empire named Pegula Sports and Entertainment. Investments are including the Buffalo Bills and the Buffalo Sabres.
He attended Penn State University. Where he earned a degree in Petroleum and Natural Gas Engineering.
Pegula started as a petroleum engineer at Getty Oil. In 1983 he founded East Resources. He used a US$ 7.500 loan from family to fund the company.
East Resources started searching and drilling for oil. And later focused on natural gas. In 2010 he sold most of his East Resources assets to Royal Dutch Shell for US$ 4.7 billion. He sold the remaining assets in 2014 for US$ 1.75 billion.
His focus shifted to Sports and Entertainment.
Pegula Sports and Entertainment
Pegula Sports and Entertainment (PSE) is Terrence Pegula’s sports and entertainment holding company. It is based in Buffalo, New York. Terrence’s wife Kim Pegula is the CEO and President of Pegula Sports and Entertainment.
The company’s investments include the Buffalo Bills of the National Football League. PSE also owns the Buffalo Sabres of the National Hockey League. And the Buffalo Beauts of the National Women’s Hockey League. It owns the Buffalo Bandits which is a professional lacrosse team in Buffalo, NY. And PSE owns the Rochester Americans, a professional ice-hockey team in Rochester, NY.
In 2014 PSE placed the winning bid to purchase the Buffalo Bills, beating out a bid from Donald Trump. The company paid US$ 1.4 billion for the team.
He Paid US$ 189 million for the Hockey Western New York Company, which owns both the Sabres and the Buffalo Bandits.
Terry Pegula Net Worth
His net worth is estimated at US$ 5 billion.
He is an active philanthropist. He donated $102 million for the construction of the on-campus Pegula Ice Arena at Penn State University. He also donated $12 million to Houghton College in New York. To fund the Kerr-Pegula Athletic Complex.
He listed his yacht Top Five for sale, as he is building a new yacht in the Netherlands. Do you know more about this project? Pls, do send us a message.