RedCarpetLife
365
In the world today
Terrence Pegula

Terrence Pegula

T. Pegula
0% | + $0.21M
$9.29 B ₹ 84,528 Cr
Real Time Net Worth #365 Ranking as of 21 Feb 2026 By Forbes

More on Terrence Pegula

Gender

Male

Age

74Y

Country

United States

Born On

March, 1951

Deceased

No

Relationship Status

Married

Children

5

Education

Penn State University - BS In Petroleum And Natural Gas Engineering

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Natural Gas)

Primary Organization

Pegula Sports And Entertainment

Titles

Owner

Sources of Wealth

East Resources (Sold)

Industry

Oil & Gas, Energy, Sports, Real Estate, Entertainment

About Terrence Pegula


T errence "Terry" Pegula is a self-made American billionaire who built his fortune in the natural gas industry and has since become a major professional sports team owner. An engineer by training, he founded his own oil and gas exploration company, East Resources, in 1983 with a $7,500 loan from family and friends. He achieved massive success by pioneering the use of hydraulic fracturing, or "fracking," to unlock the vast natural gas reserves in the Marcellus Shale, a massive rock formation in the Appalachian Basin.

In 2010, he sold the bulk of his company's assets to Royal Dutch Shell for $4.7 billion, a deal that cemented his multi-billionaire status. He has since reinvested a significant portion of his fortune into building a sports empire in his beloved city of Buffalo, New York. He and his wife, Kim Pegula, own the city's two major professional sports franchises: the Buffalo Bills of the National Football League (NFL) and the Buffalo Sabres of the National Hockey League (NHL). They have also invested heavily in real estate development in downtown Buffalo.

Advertisement

Quick Reads


  • Made his fortune in natural gas by pioneering fracking in the Marcellus Shale.
  • Sold his company, East Resources, to Shell for $4.7 billion in 2010.
  • Owner of the NFL's Buffalo Bills and the NHL's Buffalo Sabres.
  • He and his wife, Kim, run their sports and entertainment businesses together.
  • He holds a degree in petroleum and natural gas engineering from Penn State.

Early Life and Background


Terrence 'Terry' M. Pegula is an American businessman, the self-made billionaire Owner of the Buffalo Bills (NFL) and the Buffalo Sabres (NHL), and Founder of East Resources (natural gas). His career is rooted in petroleum engineering, resource extraction, and professional sports ownership.

Pegula holds a B.S. in Petroleum and Natural Gas Engineering from Penn State University. His philosophical approach centers on scale, opportunistic acquisition, and long-term asset hold in the essential natural gas and energy sectors. He successfully built his energy fortune by leveraging his expertise in natural gas exploration.

  • Buffalo Bills (NFL) / Buffalo Sabres (NHL) (Owner): The National Football League and National Hockey League franchises he acquired (a major civic commitment to the Buffalo area).
  • East Resources (Former Founder & Owner): The foundational source of his wealth, the major natural gas exploration and production company he sold to different entities for $6.3 billion in 2010.
  • Academic Background: He holds a B.S. in Petroleum and Natural Gas Engineering from Penn State University.
  • Sports Ownership: He is known for his commitment to Buffalo sports and regional revitalization.

Career Journey of Terrence Pegula


Terry Pegula's strategic genius was his commitment to high-risk, high-reward resource exploration. He founded East Resources in 1983, successfully building it into a major force by specializing in natural gas exploration (leveraging the Marcellus Shale boom). The pinnacle of his financial career was the $6.3 billion sale of East Resources to Royal Dutch Shell and others in 2010. His structural contribution is tied to pioneering the modern natural gas exploration model.

His public focus shifted to sports ownership when he acquired the Buffalo Sabres (NHL) in 2011 and the Buffalo Bills (NFL) in 2014, securing both franchises' long-term stability in the city. His wealth is secured by the colossal liquid gains from the East Resources sale and the long-term appreciation of his sports assets.

Advertisement

Terrence Pegula's Timeline


1983:

Founds East Resources (Founding).

2010:

Sells East Resources for $6.3 billion (Major Exit).

2011 (February):

Acquires the Buffalo Sabres (NHL) (Sports Acquisition 1).

2014 (October):

Acquires the Buffalo Bills (NFL) (Sports Acquisition 2/Apex).

Ongoing:

Continues as Owner and Executive, guiding his sports and private interests (Executive Oversight).

Major Business Ventures and Investments


Terrence Pegula's wealth is concentrated in the liquid capital generated from the $6.3 billion sale of East Resources and his controlling ownership of his sports empires.

  • Buffalo Bills (NFL) / Buffalo Sabres (NHL) (Owner): The National Football League and National Hockey League franchises he acquired.
  • East Resources (Former Founder & Owner): The foundational source of his wealth, the major natural gas exploration and production company he sold to different entities for $6.3 billion in 2010.
  • Academic Background: He holds a B.S. in Petroleum and Natural Gas Engineering from Penn State University.
  • Sports Ownership: He is known for his commitment to Buffalo sports and regional revitalization.

Advertisement

Philanthropy and Social Impact


Terry Pegula's social impact stems from his ownership of the Buffalo Bills and Buffalo Sabres, which provides major civic and economic stability for the Buffalo region. The Pegula family has made substantial commitments to Penn State University (funding the Pegula Ice Arena) and supports various youth sports, educational, and community welfare initiatives in Western New York.

His personal philanthropy supports various community and educational initiatives.

Fashion, Style, and Lifestyle


Terry Pegula maintains the professional, composed style of a corporate executive. His attire is consistently formal and high-quality, favoring tailored suits. His aesthetic reflects serious authority and stability, typical of a leader in the high-capital energy sector.

Residing in Boca Raton, Florida (with ties to Buffalo, New York), his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to investment strategy, energy asset management, and sports management.

Advertisement

Quotes and Philosophy


“My focus is on Buffalo. We want to do whatever we can to ensure that these teams stay here and succeed here.”

Fun Facts & Trivia


  • He is the Owner of the Buffalo Bills (NFL) and Buffalo Sabres (NHL).
  • He sold his natural gas company, East Resources, for $6.3 billion in 2010.
  • He holds a B.S. in Petroleum and Natural Gas Engineering from Penn State University.
  • His fortune is tied to the successful monetization of the Marcellus Shale natural gas boom.
  • He is known for his deep commitment to the city of Buffalo and its sports teams.
  • His philosophy emphasizes opportunistic acquisition and resource control.

Advertisement

More Profiles


Steve Conine

+1.7% | +$19.84M

Nathan Blecharczyk

+1.53% | +$129.55M

You May Like


Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

Sponsored Content