R.I.P.: Red McCombs, Clear Channel Co-Founder

Red McCombs (1927-2023)

Red McCombs, the iconic San Antonio billionaire who created an auto dealership, sports and media empire, has passed away. He was 95 years old, reports WOAI 1200 AM.

McCombs was the founder of the Red McCombs Automotive Group in San Antonio. He and Lowery Mays co-founded Clear Channel Communications, the company that owned WOAI and later became iHeartMedia. He was also a former chairman of Constellis Group, a former owner of the San Antonio Spurs, San Antonio Force, Denver Nuggets, the Minnesota Vikings, and the namesake of the McCombs School of Business at the University of Texas at Austin.

Forbes listed him among the wealthiest in the world with a net worth at $1.7 billion.

The family released the following statement:

"The entire McCombs Family is heartbroken to announce that our father, grandfather, and great-grandfather, Red McCombs, passed away on Sunday February 19, 2023. As he drew his last breath peacefully at home, he was surrounded by family that loved and adored him."

McCombs was born in rural Spur in Dickens County in West Texas. His nickname "Red" comes from his hair color. 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."