Terry Pegula

About

Terrence Michael Pegula (born March 27, 1951) is an American billionaire businessman and petroleum engineer. He is the owner of the Buffalo Sabres of the National Hockey League (NHL) and, with a consortium of private equity firms and athletes, the Buffalo Bills of the National Football League (NFL). He is also the president of both franchises. Amassing his fortune via investments in fracking, Pegula has interests in natural gas development, real estate, entertainment, and professional sports. His net worth is over US$7 billion.

Pegula was born in Carbondale, Pennsylvania. His father worked in truck driving and coal mining. His mother is from Montreal, Quebec, Canada. He attended high school at Scranton Preparatory School. From there, he attended college at Penn State University, where he earned a bachelor’s degree in petroleum and natural gas engineering. Beginning in 1985, he was based in Allegany, New York.

After working for a time for Getty Oil and Felmont Oil Co., Pegula founded East Resources, a natural gas drilling company, with $7,500 from family and friends in 1983. It profited heavily upon discovery of deep layers of natural gas…