What Is Tom Dundon’s Net Worth?

When Tom Dundon acquired a majority stake in the Carolina Hurricanes from Pete Karmanos in 2018, the team was in flux.

Reports of financial and attendance troubles, and even whispers of relocation, plagued the club. However, Dundon’s purchase brought not only stability but also ushered in an era of success.

One glance at the NHL odds to win the Stanley Cup makes it clear that Dundon’s ownership has been a massive boon for the organization. Even if he ranks among the bottom third of the richest NHL owners, it’s clear that the Texas-raised billionaire has completely changed the ethos of hockey in North Carolina.

How Much Is Tom Dundon Worth?

According to the Forbes billionaires list, Dundon is worth an estimated $2.3 billion. 

Much of that valuation comes from the Carolina Hurricanes, whom Dundon recently sold partial ownership of for an estimated $2.66 billion, according to the Associated Press. 

How Did Tom Dundon Get His Wealth?

Dundon built his wealth in the subprime auto-lending industry through his company, Drive Financial.

Founded in 1997, the company was sold to Santander Consumer in the mid-2000s and exited with more than $700 million in 2015. 

He has since founded his own firm, Dundon Capital Partners, with investments across health care, finance, and real estate, among others.

How Much Did Tom Dundon Pay for the Hurricanes?

Dundon purchased 52% of the Hurricanes and their operating rights for the club’s home arena, PNC Arena, in 2018 for a reported $420 million. 

He later completed the purchase of the remaining minority shares of the team in 2021 for an undisclosed amount, selling 12.5% of his shares to a trio of minority partners at a $2.66 billion valuation.