Red Mccombs Biography
Red Mccombs, born as Billy Joe McCombs, is an American businessman who is the founder of the Red McCombs Automotive Group in San Antonio, Texas.
He is also a co-founder of Clear Channel Communications, chairman of Constellis Group. He is also a former owner of the San Antonio Spurs, San Antonio Force, Denver Nuggets, the Minnesota Vikings, and the namesake of the McCombs School of Business at the University of Texas at Austin.
McCombs is on the Forbes 400 list of richest Americans.
Red Mccombs Age
McCombs was born on October 19, 1927, in Spur, Dickens County Texas, US. He is 91 years old as of 2018.
Red Mccombs Early Life
Mccombs was born in rural Spur in Dickens County in West Texas and his nickname “Red” comes from his hair color. McCombs’ father was a mechanic who earned $25 per week but tithed through the First Baptist Church of Spur each week.
Red Mccombs Photo
As a child, McCombs recalled having seen his parents “share with those who had less, and the joy of giving never ceased to amaze me.”
Red Mccombs Red McCombs Automotive Group
McCombs and his fellow salesman, Austin Hemphill, moved to San Antonio in 1958, to create Hemphill-McCombs Ford. Hemphill-McCombs Ford was the foundation for what ultimately became the Red McCombs Automotive Group.
He has served as chairman of the trustees at Southwestern University and chairman of the University of Texas’s M. D. Anderson Cancer Center in Houston.
McCombs’ particular interest in M. D. Anderson was accentuated in 1986, when he visited a dying friend undergoing treatment there.He expressed how he was overcome by the kindness of every employee he met at the hospital. The workers, McCombs found, had been trained to offer compassion and solace to all who come through the doors.
He joined the Anderson board and in 2005 donated $30 million to the hospital. The business school at the University of Texas was renamed the Red McCombs School of Business in recognition of his $50 million donation to the institution.
Red Mccombs Net Worth
McCombs has a net worth of US$1.6 billion.
Red Mccombs Controversy
McCombs owns a piece of property surrounded by National Forest near Wolf Creek ski area, a resort in southern Colorado owned by the Pitcher family. McCombs has long wanted to develop a resort community on his property, a plan that has drawn opposition and lawsuits from environmentalists and surrounding communities.
McCombs has been unsuccessful in his attempts to convince the court to remove a key roadblock preventing his proposed development. McCombs then attempted to build a 50,000-acre (200 km2) casino resort at Navajo Canyon on Lake Powell. The local Navajo Nation chapters, local government officials, all unanimously rejected the casino proposal and any projects by Red McCombs.
In 2013, McCombs was found by the United States Supreme Court to have engaged in a sham tax avoidance transaction and was therefore liable for a valuation misstatement penalty.
McCombs severely criticized the 2014 University of Texas hire of Charlie Strong as football coach. He described Strong as “great position coach … not on a par with other candidates.” Three days later he apologized, and pledged “total support” for Strong.