Terrence Pegula
Overview
- Source of Wealth
- Natural gas
- Industry
- Energy
- Residence
- Boca Raton, Florida
- Organization
- Owner at Buffalo Sabres
- Education
- Pennsylvania State University (Bachelor of Science in Engineering)
- Marital Status
- Married
- Children
- 5
Assets
- Abacus Life12,140,778 shares @ --ABL-US
- RAND1,906,672 shares @ --RAND-US
Biography
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.
He founded East Resources in 1983 with a $7,500 loan from friends and family to drill sand wells.
About
Pegula's daughter, Jessica Pegula, is a professional tennis player.
A Penn State alumnus, Pegula donated $102 million to the university to fund a new arena and launch a NCAA Division I hockey program.