Ethics Explorer A Guide to the Financial Interests of Elected Officials

Lieutenant Governor David Dewhurst (R)

State Government
B.A., University of Arizona.
Patricia Hamilton Dewhurst
Financial Statements
Tax Returns

Sources of Income

  • Dewhurst has been lieutenant governor since his 2002 election.

  • He and now-deceased oilman Ted Law started Falcon Seaboard, an energy and investments firm, in 1981. It suffered amid the 1980s oil and real estate bust, but is now thriving.

  • Many of his investments are held in the David Dewhurst Trust and in the Evergreen Charitable Remainder Unitrust. He created a blind trust in 2008 and disbanded it in October 2011.

  • Falcon Seaboard Diversified owns an airplane, investments in private equity, ranching and land, and oil and gas. Falcon Seaboard Investments has private equity, corporate bonds, and publicly held stocks.

  • He owns stock in Falcon Seaboard Diversified Inc. and in David Dewhurst Investments-I Inc., and he lists dozens of stocks held, acquired and sold in his last report, including Astrazeneca PLC, Boeing Co., Calpine Corp., Cemex S.A.B., Comcast, Deutsche Telekom, GlaxoSmithKline PLC, Honda Motor Co., Starwood Hotels and Resorts, Telefonos de Mexico, Tiffany & Co., and Wells Fargo & Co.

  • He served in the U.S. Air Force and worked for the CIA and State Department.

  • His wife, Patricia "Tricia" Dewhurst, is a board member of the Texas State History Museum Foundation, the Texas Cultural Trust, the Health Museum of Houston, St. Luke’s Friends of Nursing, Association of Women in Energy, and an associate member of the MD Anderson Cancer Center Board of Visitors.


  • Condo in Austin valued at $622,400

  • Condo in Houston valued at $2,356,827


  • Several of his investments and businesses are regulated by or have business with the state, or are affected by legislation under his control.

  • Dewhurst can't file or carry bills, but he has powers senators don't have, appointing the members of Senate committees, deciding which bills are considered by which committees and setting the daily agenda of bills to be considered. The lieutenant governor is, in effect, a one-person Calendars Committee.

  • To review Dewhurst's most recent tax returns, click here