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Billy Joe Red McCombs Net Worth

Billy Joe Red McCombs Net Worth

Net Worth: $1.53 Billion

Statistics
  • Source of Wealth Business and Company
  • Marital Status Married to Charline Hamblin
  • Full Name Billy Joe McCombs
  • Nationality American
  • Occupation Businessman
  • Education Southwestern University and the University of Texas at Austin
  • Children three children

About Billy Joe Red McCombs

Billy Joe Red McCombs is a businessman with an estimated net worth of $1.53 billion as of May 2016 according to Forbes. He was the 347th richest person in the Forbes 400 list and was the 1107th person listed in the World Billionaires. Also known as Red, he briefly attended Southwestern University in Georgetown, Texas. He used to play college football then joined the U.S. Army in 1946 and 1947. He later enrolled at the University of Texas in Austin, then attended business school and law school.

Red McCombs used to sell cars at George Jones Ford in Corpus Christi. Along with fellow salesman, Austin Hemphill, he moved to San Antonio in 1958 and created the Hemphill-McCombs Ford. It later became the Red McCombs Automotive Group. Today, he owns at least 55 dealerships and counting.

McCombs used to be the owner of Clear Channel Communications, the San Antonio Spurs (1972-1974), Denver Nuggets (1974-1985), Minnesota Vikings (1998-2005). He was involved in thoroughbred racing, cattle breeding, oil drilling, and building condos. He was a major partner for several years in Walmac Farm, a leading American breeding farm in Lexington, Kentucky.

Billy Joe Red McCombs announced on July 27, 2010 that he will financially backup the bringing of Formula One to Austin, Texas. He was the host during the inaugural of the Formula One Grand Prix race on November 18, 2012 which was won by British Lewis Hamilton.