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Terry Pegula's net worth increases in Forbes' annual billionaires list

Terry Pegula's net worth increases in Forbes' annual billionaires list

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Bills Chiefs AFC pregame

Bills owners Kim and Terry Pegula watch warmups from the field before the AFC Championship Game Jan. 24 against the Kansas City Chiefs.

Bills and Sabres owner Terry Pegula's net worth increased to $5.4 billion 2020, according to Forbes' annual list of billionaires. 

Pegula is listed at No. 520 on the list, which has grown to 2,765 members in what has been a record year for billionaire wealth worldwide. According to a report by Oxfam International, billionaires worldwide increased their wealth by $3.9 trillion from the onset of the pandemic through the end of the year. 

Pegula was listed as No. 330 on the billionaires list a year ago and No. 424 in 2019.

His net worth was listed at $5 billion in April 2020.

The exclusive club of sports owners has seen its wealth increase substantially as well, despite empty arenas and stadiums and canceled games because of the pandemic. According to Forbes, the 20 richest owners controlling major league sports have a combined net worth of $426 billion, up 60% from a year ago. 

Pegula did not make the top 20 as Atlanta Falcons owner and Home Depot founder Arthur Blank is No. 20 at $6.2 billion. The richest sports owner in North America is Steve Ballmer, who owns the LA Clippers, at $68.7 billion.

The Sabres fired General Manager Jason Botterill and 22 members of the hockey operations department in June and Pegula said the organization would keep with three words in mind going forward: "effective, efficient and economic."

At the time, Pegula disputed there was a "financial situation," impacting PSE. 

"There is no financial situation," Terry Pegula told reporters. "I don't know where that rumor started. If you look at every oil and gas company, which is our core business outside sports, they're all — you might use the word — hurting. But we don't have any debt on our oil and gas business."

Sabres and Bills president Kim Pegula noted that they were not the only sports owners looking at how their operations run amid the challenges of the pandemic. 

The Pegulas bought the Sabres for $189 million in 2011 and the Bills for $1.4 billion in 2014. 

According to Forbes' annual NHL team valuations, the Sabres are worth $385 million, despite operating an annual loss of $11 million. According to Forbes' NFL list, the Bills are worth $2.05 billion with an operating income of $73 million.

The Buffalo News: Good Morning, Buffalo

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