Terry Pegula, the owner of the Buffalo Bills and Buffalo Sabres, is now at #188 on the Forbes 400 list, amassing a net worth of $5.7 billion.
Pegula shares the #188 spot with six other billionaires in a tie.
According to Forbes, Pegula has seen his wealth grow by nearly $2 billion in the past two years. In October 2019, his net worth was $4.9 billion.
A graduate of Penn State, Pegula initially found success after starting East Resources in 1983 with $7,500 in loans. The oil and natural gas company sold most of its assets in 2010 for $4.7 billion.
Pegula and his wife, Kim, made the leap into the sports business the following year. They purchased the Buffalo Sabres for $189 million and founded Pegula Sports & Entertainment, which also runs a country music label called Black River Entertainment.
In 2014, the Pegulas purchased the Buffalo Bills for $1.4 billion.
The Pegulas also own the Buffalo Bandits, Rochester Americans, and briefly owned the Buffalo Beauts from 2017 to 2019.