Texas billionaire Red McCombs dies at 95

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B.J. “Red” McCombs, a San Antonio businessman who began as a automotive salesman and grew an empire that spanned media, oil {and professional} sports activities, died at his house at age 95.

McCombs, who was born in Spur, Texas in 1927, at one level owned 50 automotive dealerships underneath the identify Red McCombs Automotive Group. He based Clear Channel Communications with Lowry Mays in 1972, and introduced the Spurs to San Antonio in 1973.

McCombs owned the Spurs skilled basketball group two separate instances, and likewise beforehand owned the NFL’s Minnesota Vikings and the NBA’s Denver Nuggets. Clear Channel Communications is now often called iHeartMedia and remains to be headquartered in San Antonio.

McCombs was additionally recognized for his philanthropy. The University of Texas at Austin named its enterprise college after him following a $50 million gift in 2000. The north finish zone at Darrell Okay Royal–Texas Memorial Stadium and the varsity’s softball stadium are additionally named after McCombs. In 2005, McCombs and his basis gave M.D. Anderson Cancer Center in Houston $30 million.

McCombs was a donor to U.S. Sen. Ted Cruz, R-Texas, throughout his 2016 presidential marketing campaign, and after Cruz dropped out, he donated to Donald Trump. He was additionally previously the chairman of the board of Constellis, the holding group of the personal navy firm previously often called Blackwater.

“Red was a visionary entrepreneur who touched many lives and impacted our community in immeasurable ways,” the McCombs household stated in a press release. “But to us he was always, first and foremost, ‘Dad’ or ‘Poppop.’ We mourn the loss of a Texas icon.”

Disclosure: University of Texas at Austin has been a monetary supporter of The Texas Tribune, a nonprofit, nonpartisan news group that’s funded partly by donations from members, foundations and company sponsors. Financial supporters play no position within the Tribune’s journalism. Find a whole checklist of them right here.