According to team officials, the sale closed Thursday just two months after Dundon signed a purchase agreement to buy the stake in the franchise from longtime owner Peter Karmanos Jr.
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On Friday, the Hurricanes held a news conference to introduce their new owner.
During the conference, NHL commissioner Gary Bettman said the franchise "isn't going anywhere."
Dundon, 46, is the former CEO of Dallas-based lending firm Santander Consumer USA.
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He's also an investor in the Top Golf chain of golf and entertainment facilities and a key financier of a new golf course in Dallas, ESPN reports.
READ MORE: Tom Dundon becomes majority owner of Hurricanes as sale closes