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Terry Pegula
American Multi-Billionaire; Owner, Buffalo Bills
Terry Pegula holds business interests in natural gas development, real estate and professional sports, including full ownership of the Buffalo Sabres of the National Hockey League (NHL) and, pending league finance committee approval, the Buffalo Bills of the National Football League (NFL).
Pegula made his fortune on oil, and now he's spending that money reviving his favorite hockey programs. The fracking billionaire sold East Resources, his oil and gas company, to Royal Dutch Shell for $4.7 billion in May 2010. Nearly a year later, he bought the NHL's Buffalo Sabres, his hometown team, for $189 million. He also donated $102 million to his alma mater Penn State to build a hockey arena, which opened this fall, and field a division one team. Now, he's putting $170 million into building a development complex in downtown Buffalo that will feature two ice rinks, a hotel and a restaurant. A former Penn State math major, Pegula switched to petroleum engineering for a scholarship and joined Getty Oil after graduation. He founded East Resources with a $7,500 loan from friends and family in 1983 to drill sand wells.
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