Red will be the first to tell you he’s a “deal junkie” – he loves to buy and sell businesses. He looks for businesses that have inefficiencies and steps in to make an immediate, positive financial impact. At present, he is involved in 30+ business partnerships.
Red has owned and operated businesses in nearly every industry, starting with the automotive industry. Since beginning his career in 1950, he has operated and represented almost every kind of vehicle.
Red then joined the energy industry, creating McCombs Energy in a handshake deal. He also co-founded Clear Channel Communications which he built into the largest radio and advertising media company in the world when it began trading in the public stock market. Red continued to build his Texan legacy by expanding into real estate and land development, ranching, and cattle breeding. Red was the first to syndicate a Texas Longhorn bull for more than $1 million.
As a sports team owner, Red first bought a Class B baseball team, the Corpus Christi Clippers at age 25. Red brought the first NBA basketball team to San Antonio naming them the San Antonio Spurs. He also owned the Denver Nuggets and the Minnesota Vikings. He owned and operated professional sports team for 32 years.
However, Red is most widely known for his philanthropy. Red, his family, and the McCombs Foundation have made gifts well surpassing $200 million, including major gifts to the University of Texas at Austin’s business school which now bears his name. The M. D. Anderson Cancer Center includes the Red and Charline McCombs Institute and Southwestern University named several buildings for Red, Charline and their three daughters – Lynda, Marsh, and Connie. The McCombs Foundation makes over 300 gifts per year.
Red and his wife, Charline, will celebrate their 66th anniversary in November of 2016 and have three daughters, eight grandchildren, and five great-grandchildren.
“The Centennial of the business school highlights the spectacular growth of our students and alumni. Their accomplishments and successes have made the State of Texas the magnanimous business opportunity we enjoy today.”