"Red" McCombs was born in Spur Texas
October 19, 1927. A natural born entrepreneur, by the age of ten he was in business for
himself. His father was a mechanic who
earned $25 per week but tithed through the First
Baptist Church of Spur each week. McCombs
recalled having seen his parents "share with
those who had less, and the joy of giving never
ceased to amaze me".
In 1958, McCombs and his fellow salesman,
Austin Hemphill, moved to San Antonio to create
Hemphill-McCombs Ford, which was the foundation
for what ultimately became the Red McCombs
Automotive Group. McCombs has served as chairman
of the trustees at Southwestern University and
chairman of the University of Texas's M. D.
Anderson Cancer Center in Houston. His
particular interest in M. D. Anderson was
accentuated in 1986, when he visited a dying
friend undergoing treatment there.
Today, he is the founder of the Red McCombs
Automotive Group, a co-founder of Clear Channel
Communications, Chairman of Academi (formerly
Blackwater Worldwide). He is also a former owner
of the San Antonio Spurs, Denver Nuggets, and
the Minnesota Vikings, and the namesake of the
McCombs School of Business at the University of
Texas at Austin. in 2005 McCombs was named one of Forbes
magazine's top 400 richest Americans. According
to Forbes, McCombs has an estimated net worth of
In 2017, McCombs filed a
$1 million civil suit against seven of his
former executives whom he alleged took "trade
secrets" from McCombs' company to begin a
competing firm in Houston, F4 Resources.
Defendants in the suit include William "Bill"
Forney, Jr., who worked with McCombs for
forty-four years, former chief financial officer
Ricky Halkin, vice president of operations Larry
Wyont, vice president of land Charles Forney,
and the vice president of geology, Philip
Forney. McCombs had established McCombs Energy
in Houston in 1998 by merging his 50 percent
interest in his partnership with William Forney
with other assets purchased from Forney. McCombs
claims that his former associates, however,
lowered the proper payout that he was due from
his investments. McCombs said that the former
executives shattered personal relationships of
some four decades.