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Billionaire Profile
Terrence Pegula
Global Rank
#363

Image: Coalman767 | CC BY-SA 4.0 | via Wikimedia Commons

Terrence Pegula

CEO, Natural gas
UNITED STATES
Real-Time Net Worth
$9.311B
Estimated based on Natural gas stock value as of March 6, 2026
+0.2% (24h)
Age
74
Source
Natural gas
Industry
Energy
Citizenship
UNITED STATES

Biography

Terrence Michael Pegula is a 74-year-old American billionaire businessman and petroleum engineer. His source of wealth stems from natural gas, which he parlayed into a successful career in the energy industry. Pegula is best known for his significant achievements as the owner of the Buffalo Bills (NFL) and Buffalo Sabres (NHL) teams, along with other ventures. As of 2024, his net worth is estimated at $9.3 billion, solidifying his position as one of the wealthiest individuals in the United States.

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life

Terrence Pegula was born on March 27, 1951, in Carbondale, Pennsylvania. His father worked in mining and trucking. He graduated from Pennsylvania State University with a Bachelor of Science in petroleum and natural gas engineering in 1973.

Rise to Success

Pegula's career began at Getty Oil. In 1983, he founded East Resources with a $7,500 loan from friends and family. He achieved substantial success by investing in the Marcellus Shale. He sold assets from East Resources to Royal Dutch Shell for $4.7 billion in 2010. He also sold assets to American Energy Partners in 2014 for $1.75 billion.

Key Business Strategies

Pegula's strategies include identifying opportunities in the energy sector, particularly in natural gas, and making strategic investments in sports and real estate. He built a sports empire through the purchase of the Buffalo Sabres in 2011 for $189 million and the Buffalo Bills in 2014 for $1.4 billion.

Philanthropy

Pegula has been a notable donor to his alma mater, Penn State University. He has also contributed to Houghton College.

Career Milestones

1983

Founded East Resources

Established East Resources with a loan of $7,500 to drill sand wells.

2010

Sold East Resources Assets

Sold the majority of East Resources' assets to Royal Dutch Shell for $4.7 billion.

2011

Purchased Buffalo Sabres

Acquired the Buffalo Sabres for $189 million.

2014

Purchased Buffalo Bills

Acquired the Buffalo Bills for $1.4 billion.

Philanthropy & Social Impact

Education

Penn State University Donations

$102M

Donated to Penn State to fund a new arena and launch an NCAA Division I hockey program.

Business Philosophy & Leadership

Notable Quotes

""Starting today, the Buffalo Sabres' reason for existence, will be to win a Stanley Cup.""

Controversies & Challenges

2026

Stadium Funding Backlash

Terry Pegula has faced criticism for relying on public funding for the new Highmark Stadium while also owning a $100 million yacht.

2026

Buffalo Bills Management

Pegula has faced criticism over his hands-on approach with the Buffalo Bills and the decisions in recent years, which fans believe has led to some team failures.

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