Texas billionaire Red McCombs dies at 95

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B.J. “Crimson” 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 dwelling at age 95.

McCombs, who was born in 1927 in Spur, east of Lubbock, at one level owned 50 automotive dealerships beneath the title Crimson 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 occasions and in addition beforehand owned the NFL’s Minnesota Vikings and the NBA’s Denver Nuggets. Clear Channel Communications is now often known as iHeartMedia and remains to be headquartered in San Antonio.

McCombs was additionally identified for his philanthropy. The College of Texas at Austin named its enterprise college after him following a $50 million present in 2000. The north finish zone at Darrell Ok Royal-Texas Memorial Stadium and the varsity’s softball stadium are additionally named after McCombs. In 2005, McCombs and his basis gave MD Anderson Most cancers Middle in Houston $30 million. He additionally contributed to The Texas Tribune.

“From the enterprise college that bears his title, to our athletics and pupil success packages, his entrepreneurial spirit, drive to win and dedication to excellence are mirrored throughout the Forty Acres,” UT president Jay Hartzell stated in a press release.

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 chair of the board of Constellis, the holding group of the personal army firm previously often known as Blackwater.

“Crimson was a visionary entrepreneur who touched many lives and impacted our neighborhood in immeasurable methods,” the McCombs household stated in a press release. “However to us he was all the time, before everything, ‘Dad’ or ‘Poppop.’ We mourn the lack of a Texas icon.”

Disclosure: MD Anderson Most cancers Middle and College of Texas at Austin have been monetary supporters of The Texas Tribune, a nonprofit, nonpartisan information group that’s funded partially by donations from members, foundations and company sponsors. Monetary supporters play no function within the Tribune’s journalism. Discover a full record of them right here.