Businessman William Joe “Red” McCombs was from the United States. He established the Red McCombs Automotive Group in San Antonio, Texas.
He was also the co-founder of Clear Channel Communications and a former chairman of Constellis Group.
He was also the founder of the McCombs School of Business at the University of Texas at Austin. He was among the 400 richest Americans according to Forbes.
In this article, we will talk about Red Mccombs Net Worth at the time of his death. Scroll down and read the full article to get all details.
What is Red Mccombs Net Worth at the Time of His Death?
An American businessman named Billy Joe (Red) McCombs is worth $2 billion, according to Celebrity Net Worth. One of the richest men in the world, Mr. McCombs is most known for founding the Red McCombs Automotive Group in San Antonio, Texas.
On October 19, 1927, in Spur, Texas, Billy Joe McCombs was born. He briefly attended Southwestern University in Georgetown before enlisting in the U.S. Army for two years.
Subsequently, he enrolled at the University of Texas at Austin, where he studied law and business. He quit college in the early 1950s to work as a car salesman at Corpus Christi's George Jones Ford after getting married.
By the decade's conclusion, in 1958, Austin Hemphill, a fellow salesperson, and McCombs relocated to San Antonio to establish the Hemphill-McCombs Ford, the forerunner of what would eventually become the Red McCombs Automotive Group.
He got off to a strong start and is now the owner of at least 55 dealerships. With McCombs Energy's establishment in Houston, Red, who was already well-known in the business world and frequently referred to as Red, entered the energy sector.
Red Mccombs Childhood and Education!
McCombs was born in the US state of West Texas' Dickens County, in the small town of Spur. His hair hue gave him the moniker “Red.”
While his father was a mechanic making $25 per week, he nevertheless gave the First Baptist Church of Spur a weekly tithe.
“Share with those who had less, and the thrill of giving never stopped to astonish me,” McCombs recalls seeing his parents do.
How Did Red Mccombs Start His Career?
McCombs and Austin Hemphill, a fellow salesperson, relocated to San Antonio in 1958 to start Hemphill-McCombs Ford, the precursor to the Red McCombs Automotive Group.
McCombs held the positions of chairman of the board of trustees at Southwestern University and of the M.D. Anderson Cancer Center of the University of Texas in Houston.
When he visited a buddy who was receiving treatment at M.D. Anderson in 1986, heightened his interest in the facility. He said that the compassion of every hospital personnel he encountered left him speechless.
He discovered that the staff members had received training to show compassion and comfort to everyone who enters the building. He joined the Anderson board and gave the hospital $30 million in 2005.
In honor of his $50 million gift to the university, the University of Texas' business school was christened the Red McCombs School of Business.
By way of matching funding for new teaching jobs, fellowships, and scholarships, the $50 million actually generated $100 million. He presided over Academi's board of directors.
The Alamo Endowment Board, which raises money for the maintenance and administration of the Alamo Mission in the heart of San Antonio, included McCombs as a member.
McCombs stated in October 2015 that he envisioned an expansion program commensurate with the realism of the Alamo tale to improve the overall experience of future visitors to the historic site after the state purchased three historic structures in Alamo Plaza.
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Take a Look at Red Mccombs Personal Life!
At the age of 48, after experiencing convulsions, McCombs—a former alcoholic who could “manage his social drinking”—went into a five-day coma at a Houston hospital.
In a Christmas 2016 interview, McCombs stated: “I was actually dead when I boarded that medical jet in 1975 to travel to Houston, but God was gracious to me and for whatever reason wanted me to live.
They informed Charline that they were losing him, so she should go ahead and make plans.” McCombs claimed to have recovered and to have never once craved alcohol again. More than $118 million has been given to charity by the McCombs Foundation.
His daughters run it and try to keep expenses to a minimum. The foundation also gives modest, less-publicized gifts, including $1,000 to Moms Against Drunk Driving. Since “it makes me feel so good about doing it,” McCombs had said that he gave a lot of money to charitable organizations.
Charline Hamblin and McCombs were wed from 1950 till her passing on December 12, 2019. At the age of 95, McCombs passed away at his San Antonio residence on February 19, 2023.
Red Mccombs Awards And Achievements
- Red McCombs: Honors and distinctions
- Texas Treasure Company Award for generating jobs for Texans
- Distinguished University of Texas at Austin alumnus,
- Southwestern University and the Longhorn of the Year
- Award for Distinguished Alumni
- Award for San Antonio Citizenship and admission to San Antonio
- Texas Philanthropy, San Antonio Sports Halls of Fame, and business
- Man of the Year in Minnesota Business and Opportunity Magazine
- in 1998, the Texas Business Hall of Fame
- American Academy of Achievement's 1999 Golden Plate Award. Lowry Mays, a member of the Awards Council, gave him his honor.
- Gold Medal for the National Football Foundation and College Hall of Fame in 2001
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