Terry Pegula is a billionaire businessman and owner of the Buffalo Bills and Sabres. Explore his age, wife, children, career and net worth in 2026.
The Terry Pegula biography follows the journey of an American billionaire businessman who built his fortune in the oil and natural gas industry before becoming one of the most influential sports owners in the United States.
Pegula is best known as the owner, CEO and president of the Buffalo Bills and the owner, CEO and president of the Buffalo Sabres. His business interests also include energy, real estate and other sports ventures.
Quick Facts About Terry Pegula
| Fact | Details |
|---|---|
| Full Name | Terrence Michael Pegula |
| Popular Name | Terry Pegula |
| Date of Birth | March 27, 1951 |
| Age | 75 years old |
| Birthplace | Carbondale, Pennsylvania, United States |
| Nationality | American |
| Profession | Businessman, petroleum engineer and sports owner |
| Famous For | Owner of the Buffalo Bills and Buffalo Sabres |
| Wife | Kim Pegula |
| Children | Five |
| Education | Pennsylvania State University |
| Major | Petroleum and Natural Gas Engineering |
| Major Business | East Resources, JKLM Energy |
| Estimated Net Worth | About $11.8 billion as of September 2026 |
Terry Pegula Early Life and Family
Terrence Michael Pegula was born on March 27, 1951, in Carbondale, Pennsylvania.
He grew up in a working-class family. His father worked in occupations that included truck driving and coal mining, giving Pegula a background very different from the billionaire lifestyle he would later achieve.
Pegula attended Scranton Preparatory School before enrolling at Pennsylvania State University.
Terry Pegula Education
Pegula initially entered Penn State University as a mathematics student.
His career direction changed after he moved into petroleum and natural gas engineering. He earned a bachelor’s degree in Petroleum and Natural Gas Engineering in 1973.
The degree provided the technical foundation for his future career in the energy industry. After graduation, Pegula worked for companies including Getty Oil before eventually starting his own business.
Terry Pegula and East Resources
Terry Pegula’s fortune began with the energy industry.
In 1983, he founded East Resources, an oil and natural gas exploration company. He reportedly started the business with about $7,500 borrowed from family and friends.
East Resources expanded significantly over the following decades. The company became particularly valuable because of its natural gas assets and operations in Pennsylvania and other areas.
Pegula’s business benefited from the development of shale gas resources, including opportunities connected with the Marcellus Shale.
A major turning point came in 2010, when Royal Dutch Shell purchased most of East Resources’ assets for approximately $4.7 billion.
The transaction transformed Pegula into a multibillionaire and gave him the financial resources to expand aggressively into professional sports.
Terry Pegula and JKLM Energy
Pegula did not completely leave the energy industry after selling much of East Resources.
He later formed JKLM Energy, an oil and natural gas company operating primarily in Pennsylvania.
The company employs people with experience from Pegula’s earlier energy businesses and continues his involvement in natural gas production.
Although professional sports now account for much of his public profile, energy remains an important part of Pegula’s broader business career.
Terry Pegula and the Buffalo Sabres
Pegula became an NHL owner when he and his wife, Kim, purchased the Buffalo Sabres in 2011.
The acquisition reflected his longstanding interest in hockey.
Pegula has invested heavily in hockey facilities and development in Western New York. One of the family’s major projects was LECOM Harborcenter, a multipurpose hockey and entertainment complex located near the Sabres’ arena.
His ownership interests also extend to the Rochester Americans, the Sabres’ American Hockey League affiliate, and the Buffalo Bandits of the National Lacrosse League.
Terry Pegula and the Buffalo Bills
Terry and Kim Pegula expanded their sports holdings significantly in 2014 when they purchased the Buffalo Bills.
The acquisition reportedly cost approximately $1.4 billion. The Pegulas became only the second ownership group in the history of the NFL franchise.
Terry currently serves as the Bills’ owner, CEO and president.
Under his ownership, the Bills developed into a regular playoff contender and became one of the most valuable assets in the Pegula family’s sports portfolio.
New Highmark Stadium
One of the largest projects of Pegula’s ownership era has been the development of a new home for the Buffalo Bills.
The new Highmark Stadium officially opened in 2026. A ribbon-cutting ceremony was held in June, marking the beginning of a new chapter for the franchise.
The stadium was built in Orchard Park, New York, near the team’s previous home. It has a capacity of just over 60,000 spectators and features modern facilities designed specifically for football.
The project represents one of the most significant investments connected with the Bills during the Pegula era.
Terry Pegula Wife
Terry Pegula is married to Kim Pegula.
Kim became deeply involved in the family’s business and sports operations. She previously served as president of both the Buffalo Bills and Buffalo Sabres and became the first woman to hold that role simultaneously for an NFL and NHL franchise.
Kim suffered a serious cardiac arrest in 2022. She has undergone a lengthy recovery while Terry and other family members have taken larger roles in managing their sports businesses.
The couple married in 1993.
Terry Pegula Children
Terry Pegula has five children: Michael, Laura, Jessica, Kelly and Matthew.
His daughter Jessica Pegula is the most publicly recognised of his children. She is a professional tennis player who has competed among the world’s highest-ranked women’s players.
Jessica has also represented the United States at the Olympic Games and reached major finals during her professional career.
Terry and Kim have three children together, while Terry has two children from an earlier marriage.
Terry Pegula Philanthropy
Terry and Kim Pegula have donated large amounts of money to education and sports development.
One of their most notable contributions was a $102 million commitment to Penn State that helped fund the construction of Pegula Ice Arena and support the creation of NCAA Division I men’s and women’s hockey programmes.
The family’s philanthropy has also supported athletic facilities, community organisations and other projects.
Their contributions to Penn State have had a lasting impact on the university’s hockey programme.
Terry Pegula Net Worth
Terry Pegula’s net worth is estimated at approximately $11.8 billion as of September 2026.
Most of his original fortune came from the oil and natural gas industry, particularly the multibillion-dollar sale of East Resources assets.
However, professional sports franchises have become increasingly valuable components of his wealth.
The Buffalo Bills have risen substantially in value since Pegula purchased the team for $1.4 billion in 2014. The Buffalo Sabres have also increased significantly in value since his acquisition of the NHL franchise.
His remaining energy interests, real estate and other investments further contribute to his fortune.
Because billionaire wealth is tied to changing business valuations, Pegula’s exact net worth can fluctuate.
Terry Pegula’s Business and Sports Legacy
The Terry Pegula biography is a story of transformation from petroleum engineer to billionaire energy entrepreneur and major professional sports owner.
His career began in natural gas exploration, but the sale of East Resources allowed him to turn his attention toward sports ownership and development.
Today, his name is closely associated with professional sports in Buffalo. Through the Bills, Sabres and related organisations, Pegula has played a major role in shaping the city’s modern sports landscape.
Frequently Asked Questions
Q1: Who is Terry Pegula?
Terry Pegula is an American billionaire businessman and sports-team owner. He owns the Buffalo Bills and Buffalo Sabres and originally made his fortune in the oil and natural gas industry.
Q2: How old is Terry Pegula?
Terry Pegula is 75 years old as of 2026. He was born on March 27, 1951.
Q3: What is Terry Pegula’s net worth in 2026?
Terry Pegula’s net worth is estimated at about $11.8 billion as of September 2026. His wealth comes from energy businesses, professional sports franchises and other investments.
Q4: Who is Terry Pegula’s wife?
Terry Pegula is married to Kim Pegula. She has played a major role in the family’s sports businesses, including the Buffalo Bills and Buffalo Sabres.
Q5: How many children does Terry Pegula have?
Terry Pegula has five children. They include professional tennis player Jessica Pegula.
Q6: How did Terry Pegula make his money?
Pegula built his fortune through oil and natural gas exploration. His company East Resources became highly valuable before most of its assets were sold to Royal Dutch Shell for about $4.7 billion in 2010.
Q7: How much did Terry Pegula pay for the Buffalo Bills?
Terry and Kim Pegula purchased the Buffalo Bills for approximately $1.4 billion in 2014. The franchise has increased substantially in value since then.
