Source: Fortune
Summary
Jessica Pegula, currently ranked No. 3 in the world, is competing at the 2026 U.S. Open with a chance to win her first major title and potentially become the first American woman to reach the top of the WTA rankings since 2013. Her father, Terry Pegula, built a $9.3 billion fortune through oil and sports investments, including owning the Buffalo Bills and Sabres. Pegula has earned over $26 million in prize money and has endorsement deals with brands like IBM and Hyatt. She has emphasized her own work ethic, stating that her family’s wealth came later in her life and that success requires hard work and dedication.
Our Reading
The numbers tell one story.
Jessica Pegula is ranked third in the world but still chasing her first major.
Her father built an oil empire and owns NFL and NHL teams.
She insists her success is due to hard work, not privilege.
Fortune and privilege often walk hand in hand, but she’s trying to prove otherwise.
Author: Evan Null
Terry Pegula turned a $7,500 loan into an oil empire—and his daughter has shared his passion for hard work
Terry Pegula grew up in rural Pennsylvania, where his father worked as a truck driver and coal miner. He studied mathematics before switching to petroleum engineering. After college, he returned to the Rust Belt and borrowed $7,500 from family and friends to start East Resources, an oil and gas company. Over nearly three decades, he built the company into one of the largest privately held oil and gas businesses in the U.S., selling it to Royal Dutch Shell for $4.7 billion in 2010. His daughter, Jessica, has spoken about how his blue-collar work ethic shaped her own approach to tennis.
Many of tennis’s biggest stars came from modest beginnings—and built fortunes of their own
Jessica Pegula is not the only rising tennis star from a high-net-worth family. Emma Navarro, the No. 26 seed at the U.S. Open, comes from a family with a $3.2 billion fortune. Like Pegula, she has emphasized the importance of hard work and resilience. However, not all top players come from wealthy backgrounds. Serena and Venus Williams, for example, grew up in a middle-class family in Compton, California, before becoming two of the most successful tennis players in history. They built their own fortunes through prize money, endorsements, and investments.
Hard work and resilience are recurring themes in the stories of successful athletes
Many of the sport’s top players have spoken about the role their families played in shaping their careers. Novak Djokovic, the most successful male tennis player in Grand Slam history, has credited his parents for their sacrifices in supporting his career. He recalled a time when his family had only $10 left, a lesson in perseverance that stayed with him. Similarly, Jessica Pegula has said that her father’s work ethic, not his wealth, was the real influence on her path to success.
Success in tennis requires more than just talent or money
While wealth can provide access to better training and resources, it does not guarantee success. Jessica Pegula has said that she was not wealthy until she was 17, and that her rise to the top of the sport has been gradual. She has emphasized that success in tennis requires hard work, talent, and a strong drive. This sentiment is echoed by other top players, including Serena Williams, who has credited her parents for instilling values like humility and respect.
The role of family in shaping athletic success is complex
Families can play a crucial role in an athlete’s development, but the extent of that role varies. Some players come from wealthy backgrounds and have access to elite training, while others come from modest means and must work harder to reach the same level. Jessica Pegula’s story highlights the tension between privilege and effort, as she tries to balance her family’s wealth with her own accomplishments. Her father’s advice—work hard, love what you do, and treat people right—has clearly shaped her approach to the sport.
