The owner who got Gov. Kathy Hochul to put up $850 million in state and county public subsidies to build a new Buffalo Bills stadium is $1 billion richer.
Pegula is now ranked at No. 128 with an estimated net worth of $6.7 billion — an increase of 17.5% over last year’s list, when he was worth $5.7 billion,His increased wealth over the past year is more than the $600 million New York state and $250 million in Erie County subsidies that were stuffed into the state budget this spring — atPegula also owns the Buffalo Sabres hockey team. He previously made his fortune in oil and gas before buying sports franchises.
“The taxpayer money for the Buffalo Bills stadium is almost the same amount as the taxpayer subsidy. The more taxpayer money provided for the new stadium, the richer Pegula gets. This is icing on top of the icing of the cake.” Hochul’s office on Monday again defended the Pegula-Bills stadium deal as a plus for Western New York and the entire state. The governor is a Buffalo native.
“This agreement secures the Bills’ long term future for decades to come while putting to work thousands of union workers in what will be the largest construction project in Western New York history.”
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