The two Americans who made it to the semifinals of the US Open are not only characterized by grit and skill, they also have something else in common: their fathers are both billionaires.
On Thursday, American Emma Navarro, ranked 12th in the Women’s Tennis Association (WTA) world rankings, will face Belarusian Aryna Sabalenka, ranked 2nd, for a place in the final. On the other side of the draw, American Jessica Pegula, ranked 6th, will play Czech Karolina Muchova.
The wealth of the Navarro and Pegula families is no secret. Pegula previously told Agence France Presse that it was “annoying” when assumptions were made about her because of her father’s business success.
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“I did something for the media the other day. They asked, ‘What’s the most annoying thing?'” she told the outlet. “It’s that people think I have a butler, I’m chauffeured around. I have a private limo, I fly everywhere privately. That’s definitely not who I am.”
She also admitted that she finds it “kind of weird because I don’t actually know anyone who lives like that. It’s outrageous.”
Where does their fathers’ wealth come from?
Terry Pegula, Jessica’s father, made his fortune in the oil and gas sector as founder of East Resources. In 2010, he sold most of the company’s assets to Royal Dutch Shell for $4.7 billion, Forbes reported. Today, he runs a sports empire that includes the Buffalo Bills and the Buffalo Sabres.
According to Forbes, Terry Pegula is worth $7.7 billion.
Navarro also has financial resources independent of her income from professional tennis. Her father, Ben Navarro, is the founder and CEO of Sherman Financial Group. His fortune is estimated at $1.5 billion, according to Forbes.
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The financial services company buys and manages consumer debt from financial institutions, credit card companies and retailers. Navarro also owns the Charleston Open, a WTA Tour event.
Tennis can be prohibitively expensive. Court fees, equipment and tuition costs add up and often represent a hurdle for many young players. Even though both American semifinalists had access to top-notch coaching from a young age, no amount of money can buy a US Open title.
—With report from the Associated Press
