Jessica Pegula Billionaire: Why is Pegula so Rich?
Jessica Pegula, a billionaire heiress, came from a set down to upset Irina-Camelia Begu to reach the quarterfinals of the French Open.
In the fourth round of Roland Garros, Pegula triumphed in three sets, 4-6, 6-2, 6-3. In her last two Australian Open quarter-final appearances, the world No. 11 has equaled her best Grand Slam singles finish.
A minimum of €380,000 (£323k) has been made aside for Victory’s prize money, but even that sum pales in comparison to the enormous sum that she will get as an inheritance from her father Terrence. According to Forbes, the owner of the Buffalo Bills has a net worth of $5.8 billion (£4.5 billion).
Following his success in fracking, the tycoon and his wife Kim purchased the NFL team in 2014 to go along with his existing ownership of the Buffalo Sabres of the National Hockey League and the Buffalo Bandits of Major League Lacrosse.
Because of their enormous riches, the family was able to purchase a £60 million super yacht, which, according to superyachtfan.com, can accommodate 12 guests in six staterooms, as well as 18 crew members.
She has no need for a tennis career, but Pegula has pursued her interest in the sport anyhow. And as a result, she’s raked in more than $3 million in prize money.
Why is Pegula so Rich?
Terry Pegula made his billions in the oil and gas industry and has subsequently built a sports empire that includes the Buffalo Bills and Buffalo Sabres.
In 2010, his oil and gas company, East Resources, sold the majority of its assets for $4.7 billion to Royal Dutch Shell.
The following year, he paid $189 million for the Sabres, then in 2014, he outbid Donald Trump and Bon Jovi for the Bills, paying $1.4 billion for them.
Pegula was originally a math student who moved to petroleum engineering on a scholarship and went on to work for Getty Oil after graduation.
He started East Resources with a $7,500 loan from friends and family in 1983 to dig sand wells, and he still has oil and gas holdings in four states.