Categories
Dedman College of Humanities and Sciences Dedman College Research Economics Graduate News

Dedman College alum and Dallas’ newest billionaire, early failure set stage for success

Dallas Morning News

Originally Posted: September 13, 2015

Not that long ago, just out of SMU, Tom Dundon just wanted to run a good burger joint. In a 1994 review of his Fort Worth restaurant, Izzy’s, a food critic raved about the cheddar fries.

“The fresh potato fries peeking out from beneath the cheese blanket were greasy and delicious, two words I’d never expect to say in the same breath,” she wrote.

Still, the critic gave the place a rating of only 21/2 stars out of five and it closed within a year.

Lucky for Dundon.

In the two decades that followed, he helped build a pioneering company that provides auto loans to buyers with marginal credit, a business concept that became a spectacular success.

Called “brilliant” and “unique” by some who know him, Dundon mastered the intricacies of lending better than he did making burgers and quesadillas. Perhaps more important, he also understood the vital importance of cars to people trying to improve their lives. To them, a car means independence and more opportunity for work. READ MORE