Billy Joe (Red) McCombs
Overview
- Source of Wealth
- real estate, oil, cars, sports
- Industry
- Diversified
- Residence
- Education
- The University of Texas at Austin (Drop Out)
- Children
- 3
Biography
From his start selling Ford Edsels, Billy Joe "Red" McCombs built a network of 55 auto dealerships, now down to 12 in Texas.
In 1972 he was a cofounder of radio giant Clear Channel, which he tapped to run car ads.
He owned a stake in Constellis, formerly known as Blackwater, which he sold in 2016.
The McCombs Institute for the Early Detection and Treatment of Cancer at MD Anderson is named after Red and his wife, who donated $30 million in 2005.
Red's first job was at 10 years old, selling peanuts for a nickel a bag.
About
Over the years McCombs has owned and sold the San Antonio Spurs, the Denver Nuggets and the Minnesota Vikings. He also invested in Formula One.
Red's project to build a ski resort in southern Colorado has been on hold for nearly 30 years due to opposition from conservationists.