All You Need to Know About American Star Jessica Pegula’s Parents, Who Made Her Heiress to $8 Billion Business Empire

Jessica Pegula is a significant face of American tennis in the international circuit. She is now in the quarter-finals of the Australian Open for both women’s singles and doubles. After her smashing performance in round four of the first Grand Slam of the season, she does not need an introduction. With a current career-high ranking of World No 3 in both singles and doubles, Pegula teams up with fellow American Coco Gauff in the doubles matches. However, she is not the only person in her family who is in love with sports. Both her parents are giants in the American sports industry.

Jessica Pegula is the daughter of her Korean mother Kim and billionaire American father Terry Pegula. Terry is a businessman and his net worth is over $8 billion, as per Bloomberg. The family owns Pegula Sports and Entertainment, the company that currently owns two teams. The NHL team, Buffalo Sabres, and the NFL team, Buffalo Bills, are both owned by Jessica’s family.

Jessica Pegula has a power duo for parents

Jessica’s father, however, was not born with a silver spoon. Terry was born in Pennsylvania in March 1951. He went on to attend Penn State University where he graduated with a bachelor’s in Science in Petroleum and Natural Gas Engineering. He also secured a job with Getty Oil and Felmont Oil Co.

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He made his own way with his first venture into a natural gas drilling company, East Resources, worth $7,500. He had managed to get the investment capital from his family and friends. His luck favored him with a huge reserve of natural gas that surged the company’s value exponentially. Later on, Terry decided to move on from the industry and sold his assets worth $5 billion approximately. Eventually, in 2014, he purchased the Buffalo Bills franchise. In the auction, his competitors were Donald Trump and Bon Jovi.

Looking into Jessica’s mother Kim Pegula

Kim was born in Seoul, South Korea, in 1969. She grew up with her adoptive American parents Ralph and Marilyn Kerr in New York. She graduated from Houghton College and planned to work at a restaurant in Belfast where Terry was dining on the day of her interview. It is here that the couple met and started dating soon after. Terry offered Kim a job at his natural gas company after he was impressed with her professionalism. Before long, they were married.

Jessica’s mother Kim Pegula is an extraordinary businesswoman herself. She is Terry’s second wife and co-ventures with her husband in the family business and is the CEO of Pegula Sports and Entertainment. She is also the co-owner and in fact the President of both the NHL and NFL teams along with Terry Pegula. She is, in fact, the first female President of any NHL or NFL club. In addition to this, Kim is also a respected member of the NFL business venture committee and their Super Bowl committee as well.

The Pegula family and other ventures

The dynamic couple may have worked together to reach new heights but they have not forgotten their roots. They have been known to donate generous amounts to their alma matters, to further their development. The Pegulas’ donation of $ 12 million to Houghton College gave it a new athletics complex and allowed it to achieve a place in the NCAA Division 3.

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Terry and Kim Pegula parent two children excluding their daughter Jessica. They are Kelly and Matthew. Terry also has two children from his previous marriage- a son Michael and a daughter, Laura. Jessica’s parents have residential properties in East Aurora, Boca Raton (where they live in Florida), and New York.