How did Bills owner Terry Pegula make his money? All you need to know about billionaire NFL franchise owner

Terry Pegula bought the Buffalo Bills in 2014 after the team was put up for sale. Former owner Ralph Wilson had died and his estate chose to part ways with the Bills.

According to Pro Football Network, Pegula outbid Jon Bon Jovi and President Donald Trump. With the purchase, Pegula added the Bills to an impressive catalog of sports teams owned, including, but not limited to, the Buffalo Bandits and the Buffalo Sabres.

Before the Bills' latest Super Bowl push, let's look at how Terry Pegula earned his fortune.

How did Buffalo Bills owner Terry Pegula make his money?

According to the Bloomberg Billionaires Index, Terry Pegula is worth $12.4 billion. Pegula made his money from natural gas production.

His company, East Resources, was founded in 1983 after he acquired leases in the Marcellus and Niobrara shale formations. Pegula sold the majority of shares in his company to Royal Dutch Shell in 2010 for $4.7 billion.

An astute businessman, Pegula bought two sports franchises in Buffalo before he purchased the Bills. He bought the Bills for $1.4 billion in 2014, becoming the majority owner in the process. The Bills are a well-run operation, debt-free, and now valued at $5.1 billion.

In December, Pegula and his family decided to sell a 20.6% stake in the Bills to a consortium. The group included basketball Hall of Famer Vince Carter and private equity firm Arctos Partners.

Have the Bills won a Super Bowl under Terry Pegula?

No, the Bills are yet to win the biggest game in professional American football. In fact, it's not limited to Pegula but also under their former owner.

The Bills are an AFC powerhouse and a consistent playoff contender in the Josh Allen era. However, they've failed repeatedly to make it to the big game.

This season, they'll get another chance when they face Patrick Mahomes and the Kansas City Chiefs in the AFC championship game. The Bills are two games away from glory, and Pegula will be watching closely.