Terrence Pegulaalso known as Terry, is one of the most influential figures in business and sports in the United States. His story begins in energy sectorwhere he built one of the most important fortunes in the field of oil and natural gas. However, its impact is not limited to that area. The millionaire used his resources to venture into the sports world, becoming the owner of iconic teams such as the Buffalo Bills and the Buffalo Sabres.
Over the decades, this businessman has demonstrated an exceptional ability to detect opportunities and diversify his investments. From his first steps as an engineer to his consolidation as a tycoon, Pegula has left an indelible mark in the sectors where he has participated.
How Terry Pegula made his fortune
The origin of Terrence Pegula’s heritage is deeply linked to oil and gas industry. His interest in this activity began after changing his studies from mathematics to petroleum engineering, a decision that marked his professional destiny. After graduating from Pennsylvania State University, obtained a position at Getty Oilwhere he acquired valuable experience in exploration and extraction.
In 1983, Terry founded East Resourcesa company dedicated to drilling sand wells, with a modest loan of $7,500 that he obtained from his close environment. Over time, the project grew exponentially thanks to the exploitation of natural gas deposits in the Marcellus Shale formation, one of the most important in the United States. In 2010, Pegula sold most of the company’s assets to Royal Dutch Shell for $4.7 billiona transaction that catapulted his fortune and placed him among the big names in the energy sector.
In addition to this sale, the American retained some strategic assets of his initiative, which allowed him to continue participating in the field. Its focus on the development of unconventional resources and its ability to adapt to changes in the sector were key to its success.
Terry Pegula and sports
After consolidating his fortune, Terrence Pegula decided to expand his horizons into the sports fielda sector where it has left a significant mark. In 2011, acquired the Buffalo Sabersan NHL franchise, for $189 million. Three years later, became owner of the Buffalo Billsan NFL team, after beating other interested parties, including Donald Trump and musician Jon Bon Jovi. The purchase of said institution was made for 1.4 billion dollars, guaranteeing that the group would remain in the state of New York.
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His commitment to sport is not limited to team management. Pegula has invested in improving infrastructuresuch as the renovation of stadiums and training centers, seeking not only to increase the performance of their organizations, but also to strengthen the bond with fans. Additionally, together with his wife, Kim Pegula, he has promoted initiatives that promote youth sports development and inclusion in professional sports.
On a personal level, the millionaire is known for his closeness with the teams he leads. Players and coaches highlight their focus on creating a positive and competitive work environment. This leadership has been decisive in positioning the Sabers and the Bills as respected institutions within their leagues.
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How much is Terry Pegula’s net worth today?
In December 2024, Terry Pegula’s fortune reaches 7.6 billion dollarsaccording to Forbes. This figure places him in position 154 among the richest people in the world 154 on the Forbes 400 list in the United States. Although most of his wealth comes from the energy industry, his diversification into other sectors, such as sports and real estate, has been key to maintaining his financial position.
Source: Ambito
