Joseph Craft, III. & family

$1.40 B

Ranked #913 in World

About Joseph Craft, III. & family

Joseph Craft III, an influential American businessman and the president and CEO of Alliance Resource Partners, L.P., the third-largest coal producer in the eastern United States, has made significant contributions to both the coal industry and philanthropy. Born in 1950 and a University of Kentucky alumnus, Craft embarked on his career at Mapco Inc., eventually leading a management buyout to form Alliance Coal LLC in 1996. Under his leadership, Alliance went public in 1999, with Craft becoming its president and CEO. Notably, he expanded his role by becoming chairman of the board in January 2019. Craft's political activism includes substantial donations across party lines, notably hosting a fundraiser for Donald Trump in 2016 and contributing $1 million to Trump's inaugural committee. His philanthropic efforts are highlighted by co-founding the Craft Academy for Excellence in Science and Mathematics and significant donations to various educational and community projects. Craft's contributions have earned him numerous accolades, including induction into several halls of fame.

Born

October 13, 1950 in Hazard, Kentucky, U.S.

Age

75 years

Source Of Wealth

Coal

Industries

Energy

Citizenship

United States

Residence

Tulsa, OK

Education

Doctor of Jurisprudence, University of Kentucky; Bachelor of Arts / Science, University of Kentucky

Spouse

Kelly Guilfoil Knight

Children

Joseph Craft III was born in 1950. He earned an undergraduate degree in accounting in 1972 and a JD degree in 1976 from the University of Kentucky. During his time at the university, he was a member of the Sigma Alpha Epsilon fraternity.

Joseph Craft, III. & family: Family

Joseph Craft III is married to Kelly Craft, who served as the US Alternate Delegate to the UN and US Ambassador to Canada and the UN during Donald Trump's presidency. They have six children and, as of 2018, 11 grandchildren.

Joseph Craft, III. & family: Career Highlights

Joseph Craft III began his career at Mapco Inc., a pipeline company in Tulsa, Oklahoma. He rose through the ranks and was elected senior vice president of legal and finance in 1985. In 1986, he became the head of the coal division at Mapco. In 1996, he led a management buyout of the coal division, forming Alliance Coal LLC. Under his leadership, Alliance Coal went public in 1999, and he became the company's president and CEO in August of that year. In January 2019, he assumed the additional role of chairman of the general partner's board of directors.

One of the notable achievements during Craft's tenure was the commencement of mining operations under Interstate 70 near the West Virginia state line with Pennsylvania in 2019. This project is expected to continue until 2038.

Joseph Craft, III. & family: Companies

Joseph Craft III has been associated with the following companies:

Mapco Inc.
Alliance Coal LLC
Alliance Resource Partners, L.P.

Joseph Craft, III. & family: Major Achievements

Joseph Craft III's major achievements include:

Leading the management buyout of the coal division from Mapco Inc. and forming Alliance Coal LLC.
Taking Alliance Coal public in 1999.
Becoming the president and CEO of Alliance in August 1999.
Assuming the additional role of chairman of the general partner's board of directors in January 2019.

Overseeing the commencement of mining operations under Interstate 70 near the West Virginia state line with Pennsylvania.

Joseph Craft, III. & family: Awards & Achievements

Joseph Craft III has received numerous awards and recognitions, including:

Inducted into the Tulsa Hall of Fame (2007).
Named Ernst & Young Entrepreneur of the Year for the Southwest Region energy, chemical, and mining category (2008).
Inducted into the University of Tulsa's Collins College of Business Hall of Fame (2009).
Inducted into the University of Kentucky College of Law Hall of Fame (2010).
Inducted into the Kentucky Entrepreneur Hall of Fame (2018).

Joseph Craft, III. & family: Personal Life & Legacy

Joseph Craft III is known for his philanthropic efforts. He co-founded the Craft Academy for Excellence in Science and Mathematics at Kentucky's Morehead State University with his wife in 2015. The couple has committed over $10 million to the Academy. Craft has also made significant contributions to various other educational and community initiatives, including the Joe Craft Center at the University of Kentucky, the Joe Craft Tower at the Hazard ARH Hospital, "A Gathering Place for Tulsa" park, and the University of Kentucky football program. He has taken the Giving Pledge, committing to donate the majority of his resources to philanthropic causes.

Joseph Craft, III. & family: Trivia

Joseph Craft III hosted a private fundraiser for Donald Trump at the Aviation Museum of Kentucky on July 11, 2016. He also contributed $1 million to the Trump presidential inaugural committee through a trust.

Wealth History

Timeline

1950

Joseph Craft III is born.

1972

Joseph Craft III earns an undergraduate degree in accounting from the University of Kentucky.

1976

Joseph Craft III earns a JD degree from the University of Kentucky.

1985

Joseph Craft III is elected senior vice president of legal and finance at Mapco Inc.

1986

Joseph Craft III becomes head of the coal division at Mapco.

1996

Joseph Craft III leads a management buyout of the coal division at Mapco, forming Alliance Coal LLC.

1999

Joseph Craft III leads the effort to take Alliance public.

August 1999

Joseph Craft III becomes president and CEO of Alliance.

January 2012

Joseph Craft III donates around $500,000 to Restore Our Future, a Super PAC supporting Mitt Romney.

July 11, 2016

Joseph Craft III hosts a private fundraiser for Donald Trump at the Aviation Museum of Kentucky.

2018

Joseph Craft III has six children and 11 grandchildren.

January 2019

Joseph Craft III assumes the additional role of chairman of the general partner's board of directors at Alliance.

2019

Alliance starts mining under I-70 near the West Virginia state line with Pennsylvania (expected to last until 2038).

2019

Joseph Craft III makes a $3 million gift to support the Institute for the Study of Free Enterprise at the University of Kentucky.

2022

Joseph Craft III makes a $7.5 million gift to renovate the University of Kentucky football team's indoor practice facility.

Joseph Craft, III. & family : FAQs

What is Joseph Craft, III.'s net worth?

As of 2012, Joseph Craft, III.'s net worth was $1.40 billion.

What are Joseph Craft, III.'s main sources of wealth?

Joseph Craft, III.'s main source of income comes from Coal.

In which industry does Joseph Craft, III. primarily operate?

Joseph Craft, III. is primarily involved in the Energy industry.

What is Joseph Craft, III. educational background?

Joseph Craft, III. holds a Doctor of Jurisprudence from the University of Kentucky and a Bachelor of Arts / Science from the University of Kentucky.

How old is Joseph Craft, III.?

Joseph Craft, III. is 75 years old.

How many children does Joseph Craft, III. have?

Joseph Craft, III. has 4 children.

Who is Joseph Craft III and what is his role in the coal industry?

Joseph Craft III is an American businessman who serves as the president and CEO of Alliance Resource Partners, L.P., the third-largest coal producer in the eastern United States.

How did Joseph Craft III start his career and rise to prominence in the coal industry?

Joseph Craft III began his career at Mapco Inc., a pipeline company, in Tulsa, Oklahoma. He became head of the coal division at Mapco in 1986, led a management buyout to form Alliance Coal LLC in 1996, and took Alliance public in 1999, becoming its president and CEO.

What are some key philanthropic efforts made by Joseph Craft III?

Joseph Craft III has made significant philanthropic contributions, including co-founding the Craft Academy for Excellence in Science and Mathematics, pledging millions towards sports facilities at the University of Kentucky, and supporting various community projects like 'A Gathering Place for Tulsa'.

What awards has Joseph Craft III received for his contributions to business and philanthropy?

Joseph Craft III has been recognized with several awards, including induction into the Tulsa Hall of Fame (2007), Ernst & Young Entrepreneur of the Year (2008), and induction into both the University of Tulsa's Collins College of Business Hall of Fame (2009) and the University of Kentucky College of Law Hall of Fame (2010).