Tim Dunn (businessman)
Timothy Marvin Dunn | |
|---|---|
| Born | Template:Birth year and age Littlefield, Texas, U.S. |
| Occupation(s) | Entrepreneur, oil and gas executive |
| Years active | 1978–present |
| Known for | CEO of CrownQuest Operating; conservative political donor |
Timothy Marvin Dunn (born 1955) is an American billionaire entrepreneur and the chief executive officer of CrownQuest Operating, an oil and gas enterprise he co-established in 1996. He is recognized as a prominent financier of conservative political initiatives within Texas. As of July 2024, Forbes valued his fortune at approximately US$2.2 billion.
Early life and education
Timothy Dunn was born to Joe and Thelma Dunn in Littlefield, Texas and was raised in Big Spring, Texas as the youngest among four siblings. Achieving the rank of Eagle Scout, he completed his studies at Big Spring High School in 1974 before obtaining a degree in chemical engineering from Texas Tech University in 1978. During his high school years, he was active in basketball, engaged with the Fellowship of Christian Athletes, and played guitar in a musical group.
Career
Dunn began his professional journey as an engineer at ExxonMobil from 1978 to 1980. He later transitioned into banking at First City National Bank in Midland, where he held the position of senior vice president responsible for managing oil and gas lending until 1987. Subsequently, he served as chief financial officer at Parker & Parsley Petroleum until 1995, overseeing securities dealings and advocating for tort reform.
In 1996, he launched CrownQuest Operating with a focus on the Permian Basin. By 2022, CrownQuest had grown to become the eighth-largest oil producer in Texas. Dunn earned recognition as the top CEO of a large company by both the Texas Independent Producers and Royalty Owners Association and Texas Monthly in 2013. His wealth is partly attributed to acquiring low-cost Permian Basin leases prior to the economic feasibility brought by fracking technology. In December 2023, Dunn finalized the sale of CrownQuest to Occidental Petroleum for $12.4 billion.
Political involvement
As a leading political contributor in Texas, Dunn was identified as the state's largest individual campaign donor during 2022 and 2023. He has allocated millions toward advancing conservative agendas within the Texas Republican Party and Legislature. His political engagement dates back to serving as a delegate at the state Republican convention in 1996.
In 2002, Dunn supported a political action committee that promoted legislation opposing both same-sex marriage and adoption rights for same-sex couples. He opposed a 2006 proposal to reform Texas taxes by replacing property taxes with business taxes, instead advocating for eliminating school property taxes through budget surpluses and expenditure reductions.
Dunn established and primarily funded the conservative advocacy organization Empower Texans in 2006 to resist taxation on investor-owned oil wells. He holds a board position with the Community News Foundation, which publishes the Texas Scorecard, and is a founding board member of Citizens for Self-Governance, an organization spearheading the Convention of States initiative aimed at amending the U.S. Constitution through an Article V convention. Additionally, he serves on the board of the Lucy Burns Institute.
In his role as vice chairman of the Texas Public Policy Foundation (TPPF), Dunn contributed to founding its Center for Effective Criminal Justice, part of the Right on Crime movement that promotes criminal justice reforms emphasizing restorative justice and alternatives to incarceration. He supported legislation focused on juvenile justice reform in 2011.
Dunn has donated close to US$10 million to Defend Texas Liberty PAC, an organization challenging Republican incumbents considered insufficiently conservative; he remains its principal financial backer. By August 2022, Federal Election Commission records indicated that Dunn had made over 300 political contributions since 2008. After controversies involving Defend Texas Liberty's leadership, much of his financial support shifted toward Texans United for a Conservative Majority, which backed victorious candidates in the 2024 Texas House primaries.
He contributed $5 million to the super PAC Make America Great Again Inc., ranking among Donald Trump's largest donors, and has supported conservative entities such as America First Legal and the Center for Renewing America. Since 2021, Dunn has been a board member of the America First Policy Institute, which promotes Donald Trump's policy objectives.
Dunn has also been engaged with and partially funds the Convention of States Project, advocating for a constitutional convention aimed at proposing amendments.
Educational and Religious Engagement
Dunn is a co-founder of Midland Classical Academy, a nonprofit Christian educational institution where he holds a position on the board of trustees and has contributed as an assistant basketball coach. The academy utilizes the Socratic method and offers a curriculum centered on the study of western civilization. Additionally, Dunn serves on the governing boards of Grace School of Theology, a Christian seminary with the mission of becoming "A Seminary to the World," and the First Liberty Institute, an organization dedicated to Christian legal advocacy. He leads the Christian Advisory Board for the Israel Allies Foundation, an international NGO that fosters faith-based support for Israel. Forbes has characterized him as "firmly anti-abortion," noting his financial support for adoption programs and foster care services benefiting over 300 children in West Texas. Texas Monthly recognized Dunn as "a significant figure within the expanding Christian nationalism movement." He has publicly cautioned that Marxists are increasingly assertive in their pursuit of authoritarian control and has called on Christians to actively resist these efforts.
Personal Life
Dunn met his wife, Terri (née Spannaus), during their time at Texas Tech University, and they were married in 1977 following his junior year. Together, they have six children who have been homeschooled. Their granddaughter, Moriah Wimberly, who was two years old, passed away in 2015; this loss inspired Dunn’s 2018 publication, Yellow Balloons: Finding Power To Live Above Your Circumstances. The Dunn family resides in Midland, Texas, where they attend Midland Bible Church and live in a 6,000-square-foot residence situated on land shared with some of their children. One of their sons is Christian musician and songwriter David Dunn.
Bibliography
- Dunn, Tim. Yellow Balloons. 2018.