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Who are Jessica Pegula’s parents? How did they make their wealth?
A lot is known about America’s Number One and world number 4 Pegula’s tennis career. Yet, not many know that she is labelled the richest athlete in the world.
Photo by Icon Sport
Who are Jessica Pegula’s parents?
Jessica Pegula is the daughter of Terry and Kim Pegula. She has two brothers – Kelly and Matthew – and also a step-brother (Michael) and a step-sister (Laura) from her father’s first marriage. Let’s find out more about the parents of one of the best female tennis players in the world right now.
Terry Pegula
Terrence Michael Pegula, known generally as Terry Pegula, was born on March 27th, 1951 in Carbondale, Pennsylvania. He was the son of a trucker and coal miner, so Terry grew up in relative poverty and started to work in a coal mine at age 15 when he was off school.
Terry showed smart brains though and he managed to graduate from Penn State University with a degree in petroleum and natural gas engineering. Then in 1983, he borrowed $7,500 from family and friends to found his own oil and gas company East Resources. The rest is history as they say. A history we’ll delve into in more detail further below.
Kim Pegula
Jessica Pegula’s mother Kim is a South Korean born in Seoul in 1969. She has lived in extreme poverty in her early years. She doesn’t know her real birth date, her parents, or her childhood years. Kim was abandoned by her parents on the streets of Seoul at age of just 5 and she was given up for adoption. In 1974 Kim, only age 5, was adopted by Ralph and Marilyn Kerr. In America, Kim graduated from Houghton College and shortly after she met Terry while watering for him in a restaurant. They fell in love. Terry and Kim Pegula have been happily married since 1993 and they have 3 kids together.
How the Pegula family made billions?
Terry Pegula might have started East Resources with a very small budget but with 2 of his first 3 oil developments finding rich wells and Terry’s progressive thinking seeing him getting involved in one of the first fracking ventures in America in the 80s East Resources soon had assets worth billions all over the country.
Terry developed them for several more years and eventually in the early 00s he sold the most profitable assets for $4.7 billion, a year later he also sold his Ohio and West Virginia assets for $1.7 billion, while still keeping his oil and gas assets in Pennsylvania for himself.
With all those billions Terry and Kim Pegula ventured into the sport ownership business. In 2011, the couple bought the NHL franchise Buffalo Sabers for $189 million. Then 3 years later for the whooping $1.4 billion Terry Pegula also bought the American Football team Buffalo Bills. Jessica Pegula’s parents have acquired 6 other sport teams since, but the Sabers and Bills remain their main jewels. This explains why Jess Pegula is such a wild fan of the Buffalo Bills and goes to support them every time she has the chance.
Jessica Pegula parents – what is their net worth?
As of June 2022, Terry and Kim Pegula’s net worth is estimated to be around $6.7 billion.
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