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American businessman and sports team owner (born 1951)
Terrence Michael Pegula 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.
He lives in Boca Raton, Florida, with his second wife, Kim Pegula (née Kerr), who grew up in Fairport, New York, and is a graduate of Houghton College. Kim was born in Seoul, South Korea, and at age 5, she was adopted in 1974 by Ralph and Marilyn Kerr. He has five children, two from a previous marriage to Anne Shirley (Michael and Laura), and three with Kim (Jessica, Kelly, and Matthew). Jessica Pegula is currently ranked number 4 on the Women's Tennis Association's Pro Circuit. Pegula owns a large yacht, christened Top Five. In 2024, Laura Pegula, his daughter and longtime employee in Pegula's petroleum businesses, assumed a minority stake in the ownership of the Bills, following Kim being declared legally incapacitated in March 2023 following a June 2022 stroke; under the terms of the declaration, Kim was declared a ward in the custody of her husband and her assets transferred to a trust managed by Terry and by Bob Long, a longtime business partner of Pegula's.
Pegula also owns a share of Black River Entertainment, an independent country music label. The label features such acts as Kelsea Ballerini, Kellie Pickler and Craig Morgan as well as the related Black River Publishing and Sound Stage Studio all under the Black River label based in Nashville, Tennessee. Also under the Pegula umbrella is Impact Sports Performance, two high performance athletic training facilities which are based in Boca Raton, Florida and LECOM Harborcenter in Buffalo. Pegula owned 716 Food and Sport, a two floor sports themed restaurant which serves as the main business tenant of LECOM Harborcenter until he sold it to Southern Tier Brewing Company in 2021. Through a partnership with Southern Tier Brewing Company, Pegula launched a "One Buffalo" branded craft beer that sells at all Pegula-owned properties and elsewhere in the region. The One Buffalo brand has also been extended to a flavor of Perry's Ice Cream (which already licensed Bills and Sabres themed flavors prior to Pegula's purchases of the teams) and premium cupcakes, both formulated by Pegula's wife, a pronounced fan of desserts. In July 2022, Pegula established Bison Wealth, a back-office consulting service based in Atlanta, Georgia.
According to Bloomberg, Pegula had a net worth over $7 billion as of July 2021.
Biographical detail compiled from Wikipedia and Wikidata, which are edited openly and may be incomplete or out of date. Fleet data is our own. Source →
