Terrence Pegula

$9.30 B

Ranked #369 in World

About Terrence Pegula

Terrence Michael Pegula, born in Carbondale, Pennsylvania on March 27, 1951, is a renowned figure in the finance world. He founded East Resources in 1983, profiting from the discovery of deep layers of natural gas. Pegula also expanded his empire by purchasing and investing in various professional sports teams such as the Buffalo Sabres, Buffalo Bandits, Rochester Americans, and Buffalo Bills. His investments extend beyond sports, including real estate, music labels, and athletic training facilities. With a net worth of over $7 billion, Pegula has also made significant philanthropic contributions to projects like the Pegula Ice Arena at Penn State University and the Kerr-Pegula Athletic Complex at Houghton College. Despite his success, he remains tight-lipped about his specific political views.

Born

March 27, 1951 in Carbondale, Pennsylvania, U.S.

Age

75 years

Source Of Wealth

Natural Gas

Industries

Energy

Citizenship

United States

Residence

Boca Raton, Florida

Education

Bachelor of Science in Engineering, Pennsylvania State University

Spouse

Anne Shirley (divorced), Kim Pegula (Married: 1993)

Children

5 (including Jessica)

Terrence Michael Pegula was born on March 27, 1951, in Carbondale, Pennsylvania. His father worked in truck driving and coal mining, while his mother hailed from Montreal, Quebec, Canada. Pegula attended Scranton Preparatory School and later pursued a Bachelor of Science degree in petroleum and natural gas engineering at Penn State University.

Terrence Pegula: Family

Terrence Pegula is currently married to his second wife, Kim Pegula, a graduate of Houghton College who grew up in Fairport, New York. Together, they have three children: Jessica, Kelly, and Matthew. Pegula also has two children, Michael and Laura, from his first marriage. Notably, Jessica Pegula is a top 10 tennis player on the WTA Pro Circuit.

Terrence Pegula: Career Highlights

Pegula's career is marked by significant achievements in the oil and gas industry, professional sports, real estate investments, and other ventures.

Terrence Pegula: Companies

Pegula founded East Resources, a natural gas drilling company, in 1983. He later sold assets to Royal Dutch Shell and American Energy Partners, LP for substantial amounts. Pegula also owns Greater Rocky Mountain Regional Oil & Gas in Colorado and Wyoming, as well as JKLM Energy in Pennsylvania.

Terrence Pegula: Major Achievements

Pegula's major achievements include purchasing the Buffalo Sabres and Buffalo Bandits in 2011, followed by the acquisition of the Buffalo Bills in 2014. He also re-purchased the Rochester Americans, the Sabres' former AHL affiliate, and acquired the Buffalo Beauts of the NWHL in 2017. Additionally, Pegula reached an agreement to purchase the intellectual property of the Rochester Knighthawks in 2019.

Terrence Pegula: Awards & Achievements

Pegula's contributions to sports and philanthropy have been recognized through various awards and achievements. These include the NHL Board of Governors Award in 2017 and the Buffalo Sabres Hall of Fame induction in 2019.

Terrence Pegula: Personal Life & Legacy

Pegula currently resides in Boca Raton, Florida, with his wife, Kim Pegula. He is known for his passion for sports, particularly hockey, and has made significant investments in various sports teams and facilities.

Pegula's legacy is marked by his entrepreneurial success, philanthropic endeavors, and contributions to the sports landscape in Buffalo and beyond.

Terrence Pegula: Trivia

Pegula owns a large yacht named Top Five. He is also a fan of country music and owns a share of Black River Entertainment, an independent country music label. Pegula's political views are generally considered to be Republican, but he does not publicly discuss them in detail.

Wealth History

Timeline

March 27, 1951

Terrence Michael Pegula is born in Carbondale, Pennsylvania.

1983

Pegula founds East Resources, a natural gas drilling company, with $7,500 from family and friends.

2011

Pegula purchases Hockey Western New York LLC (Buffalo Sabres and Buffalo Bandits) for $189 million.

2011

Pegula re-purchases the Rochester Americans, the Sabres' former AHL affiliate.

2014

Pegula purchases the Buffalo Bills for $1.4 billion, all in cash.

2017

Pegula acquires the Buffalo Beauts of the NWHL, making them the first NWHL team not owned by the league.

2019

Pegula reaches an agreement to purchase the intellectual property of the Rochester Knighthawks.

2023

The Buffalo Bandits win the NLL championship, Pegula's first championship with the team.

Terrence Pegula : FAQs

What is Terrence Pegula's current net worth?

Terrence Pegula's current net worth is $9.30 billion.

What is Terrence Pegula's current global rank among billionaires?

Terrence Pegula holds the 369th position globally among billionaires.

What is Terrence Pegula's current ranking within the United States?

Terrence Pegula holds the 144th position in United States.

What was the change in Terrence Pegula's net worth compared to the previous year?

Terrence Pegula's net worth increased by 8.8 million dollars compared to the previous year 2025, when his net worth was 9.29 billion dollars.

What is the recent change in Terrence Pegula's net worth?

Terrence Pegula's net worth increased by 8.62 million dollars recently, a 0.09% increase, with his net worth standing at 9.30 billion dollars.

What are Terrence Pegula's main sources of wealth?

Terrence Pegula's main source of income comes from Natural Gas.

In which industry does Terrence Pegula primarily operate?

Terrence Pegula is primarily involved in the Energy industry.

What is Terrence Pegula educational background?

Terrence Pegula holds a Bachelor of Science in Engineering from Pennsylvania State University.

How old is Terrence Pegula?

Terrence Pegula is 75 years old.

How many children does Terrence Pegula have?

Terrence Pegula has 5 children.

What is the background of Terrence Michael Pegula?

Terrence Michael Pegula was born on March 27, 1951, in Carbondale, Pennsylvania. He grew up in a family where his father worked in truck driving and coal mining, and his mother hailed from Montreal, Quebec, Canada. He attended Scranton Preparatory School and earned a Bachelor of Science degree in petroleum and natural gas engineering from Penn State University. Since 1985, Pegula has been based in Allegany, New York.

How did Terrence Pegula become a billionaire?

Terrence Pegula founded East Resources, a natural gas drilling company, in 1983 with $7,500 from family and friends. He capitalized on the discovery of natural gas in the Marcellus Formation and advancements in hydraulic fracturing, leading to significant profits. His company's assets in Pennsylvania, New York, and the Rocky Mountains were sold to Royal Dutch Shell for approximately $4.7 billion, and his Ohio and West Virginia assets were sold for $1.75 billion in 2014. Pegula's net worth exceeded $7 billion as of July 2021.

What sports teams does Terrence Pegula own?

Terrence Pegula owns several professional sports teams. He purchased Hockey Western New York LLC, which includes the Buffalo Sabres and Buffalo Bandits, in 2011 for $189 million. He also owns the Rochester Americans AHL hockey team and acquired the Buffalo Bills NFL team in 2014 for $1.4 billion. Additionally, Pegula acquired the Buffalo Beauts of the NWHL in 2017 and later divested the team in 2019, and reached an agreement to purchase the intellectual property of the Rochester Knighthawks in 2019.

What philanthropic contributions has Terrence Pegula made?

Terrence Pegula has made significant philanthropic contributions, especially in the field of sports and education. He donated $102 million for the Pegula Ice Arena at Penn State University, transforming the university's hockey programs, and contributed $12 million to Houghton College for the construction of the Kerr-Pegula Athletic Complex. His donations have had a considerable impact on collegiate sports infrastructure and the establishment of the Big Ten hockey conference.

What are the major real estate and other investments of Terrence Pegula?

Terrence Pegula has made substantial investments in real estate, including winning the development rights to Buffalo's waterfront Webster Block, developing the LECOM Harborcenter, and redeveloping 79 Perry Street into a mixed-use facility. He also operates KeyBank Center and Blue Cross Arena. Pegula's other investments include a share of Black River Entertainment, Impact Sports Performance athletic training facilities, and Bison Wealth consultancy. He also previously owned 716 Food and Sport and launched a 'One Buffalo' craft beer with Southern Tier Brewing Company.