Wikipedia

Joe Craft

Joseph Craft III (born 1950)[1] is an American businessman. He is the president and chief executive officer of Alliance Resource Partners, L.P., the third-largest coal producer in the eastern United States.[2][3]

Joe Craft
Joe and Kelly Craft in 2018
Born (1950-10-13) October 13, 1950 (age 74)
Hazard, Kentucky, U.S.
Alma materUniversity of Kentucky (BS, JD)
OccupationBusinessman
Employer(s)Alliance Resource Partners, L.P.
Spouse
​
​
(m. 2016)​
Children4

Personal life

edit

Craft received an undergraduate degree in accounting in 1972 from the University of Kentucky, and then earned a JD degree in 1976 from the University of Kentucky College of Law.[4][5] Craft was a member of the Sigma Alpha Epsilon fraternity.[4]

Craft's wife, businesswoman and former US Alternate Delegate to the United Nations Kelly Craft, was in 2017 appointed as the U.S. Ambassador to Canada by Donald Trump.[6] In 2019 she became the United States Ambassador to the United Nations, also appointed by President Trump.[6][7] The couple have six children and, as of 2018, 11 grandchildren.[8]

Career

edit

Craft began his career at Mapco Inc, a pipeline company that had diversified into other energy sectors, based in Tulsa, Oklahoma.[9] In 1985, he was elected senior vice president of legal and finance.[10] In 1986, Craft became head of the coal division at Mapco.[9]

In 1996, Craft led a management buyout of the unit.[11] The buyout involved Mapco selling a 75% stake in the coal division to the Beacon Group Energy Investment Fund.[9][12][13] The new company was called Alliance Coal LLC.[14][11]

In 1999, he led the effort to take Alliance public.[9] In August 1999, he became president and chief executive of Alliance.[15] In January 2019, while already president and chief executive officer of Alliance Resource Partners' general partner, he also assumed the additional role of chairman of the general partner's board of directors.[14][16]

In 2019, Alliance started mining under I-70 near the West Virginia state line with Pennsylvania. The long wall mining is expected to last until 2038.

Political activism

edit

The Lexington Herald-Leader reported that Craft had given more money to Democratic candidates at the state level of office between 2008 and 2019 than to Republican candidates.[17] In January 2012, Craft donated around $500,000 to Restore Our Future, a Super PAC supporting Mitt Romney.[18] On July 11, 2016, Craft hosted a private fundraiser for Donald Trump at the Aviation Museum of Kentucky.[19] Through a trust, Craft contributed $1 million to the Trump presidential inaugural committee.[20]

Philanthropy

edit

In 2015 Joe Craft and his wife Kelly Craft co-founded the Craft Academy for Excellence in Science and Mathematics at Kentucky's Morehead State University, a special program for academically exceptional high school students.[21] By 2019 they had committed over $10 million to the Academy.[22]

After Craft pledged $6 million toward the completion of the project, the Joe Craft Center, a state-of-the-art basketball practice facility for the Kentucky Wildcats men's and women's basketball teams, was named for him. This was the largest private gift in the history of UK Athletics.[23]

The Joe Craft Tower, a wing of the Hazard ARH Hospital in Hazard, was completed and opened in 2014.[24] Craft donated $1 million to the project.[24]

In 2014, he donated $5 million for "A Gathering Place for Tulsa", a park to be built along the city's Arkansas River waterfront.[25]

In 2016, he donated $4.8 million for the construction of the facility housing the day-to-day University of Kentucky football operation.[26]

In 2019, he made a $3 million gift to support the Institute for the Study of Free Enterprise, in the Gatton College of Business and Economics, of the University of Kentucky.[27]

In 2022, he made a $7.5 million gift to renovate the University of Kentucky football team's indoor practice facility.[28]

Craft has taken the Giving Pledge, pledging "to give the vast majority of my resources to philanthropic causes and charitable endeavors targeted to people and organizations that embrace individual responsibility, economic freedom, reducing poverty and providing opportunities for those willing to chase the American dream."[29][30]

Awards

edit

Craft was inducted into the Tulsa Hall of Fame in 2007.[31] In 2008, Craft was named the Ernst & Young Entrepreneur of the Year for the Southwest Region energy, chemical, and mining category.[32] In 2009, Craft was inducted into the University of Tulsa's Collins College of Business Hall of Fame.[33] In 2010, he was inducted into the University of Kentucky College of Law Hall of Fame.[34] In 2018, he was inducted into the Kentucky Entrepreneur Hall of Fame.[35]

See also

edit

References

edit
  1. ^ "Hazard native gives generously to UK". Hazard Herald. July 18, 2013. Retrieved April 13, 2015.
  2. ^ "Alliance Resource Partners, L.P. Announces Acquisition of Coal Supply Agreements from Affiliate of Patriot Coal Corporation". Business Wire. January 2, 2015. Retrieved April 13, 2012.
  3. ^ "A Courtside View of Scott Pruitt's Cozy Ties With a Billionaire Coal Baron". The New York Times. June 2, 2018. ISSN 0362-4331. Retrieved June 3, 2018.
  4. ^ a b Blackford, Linda (February 14, 2013). "Billionaire Joe Craft at nexus of Kentucky basketball, coal and politics". Lexington Herald Leader.
  5. ^ Williams, Chad (2018). Escape the Law The Journey from Lawyer to Entrepreneur. Morgan James Publishing. ISBN 9781683508465.
  6. ^ a b Kirby, Jen (May 2, 2019). "Trump has nominated Kelly Craft to be the next UN ambassador. Here's who she is". Vox. Retrieved November 23, 2020.
  7. ^ "Trump picks envoy to Canada Kelly Craft for U.N. ambassador". Reuters. February 23, 2019. Retrieved May 29, 2020.
  8. ^ "U.S. Ambassador Kelly Craft to address Craft Academy graduates". Morehead State News. May 9, 2018. Archived from the original on June 9, 2021. Retrieved June 27, 2021.
  9. ^ a b c d Loh, Tim (July 22, 2017). "Obscure coal CEO rains money on Trump while outflanking rivals". St. Louis Post-Dispatch. Retrieved November 23, 2020.
  10. ^ "EXECUTIVE CHANGES (Published 1985)". The New York Times. July 15, 1985. ISSN 0362-4331. Retrieved November 23, 2020.
  11. ^ a b White, Douglas. "Alliance Resource Partners confirms Dotiki Mine to cease production in one week". The Gleaner.
  12. ^ "MAPCO Coal Sale Expected". The Oklahoman. January 16, 1996. Retrieved November 23, 2020.
  13. ^ "COMPANY NEWS;MAPCO TO SELL A 75% STAKE IN ITS COAL UNIT (Published 1996)". The New York Times. January 16, 1996. ISSN 0362-4331. Retrieved November 23, 2020.
  14. ^ a b "Alliance Resource Partners Appoints Joseph Craft as Chairman of Board of Directors". Mining Connection. January 11, 2019. Retrieved November 23, 2020.
  15. ^ "Football training facility renamed for Joe Craft". WKYT. October 21, 2016. Retrieved November 23, 2020.
  16. ^ "ALLIANCE RESOURCE PARTNERS, L.P.; Names Craft Chairman of Board of Directors; Druten Elected to Replace Retiring Chairman Neafsey". sec.gov.
  17. ^ Strand, C. C. (February 22, 2019). "Joe Craft, Kelly Craft's Husband: 5 Fast Facts You Need to Know".
  18. ^ "Billionaire Joe Craft at nexus of Kentucky basketball, coal and politics". Lexington Herald-Leader. November 4, 2012. Retrieved April 13, 2015.
  19. ^ "Donald Trump heading to Kentucky for fundraiser". The Washington Times. June 28, 2016. Retrieved February 6, 2017.
  20. ^ Siegel, Emily (April 3, 2019). "Trump inaugural donors got ambassador nominations. Are they qualified?". NBC News. Retrieved November 23, 2020.
  21. ^ Althia Raj (July 4, 2018). "Life As Trump's Envoy In Ottawa Hasn't Been Easy On Kelly Craft, Friends Say". HuffPost Canada.
  22. ^ "Morehead State receives additional $3.5M commitment for Craft Academy". Lane Report. October 18, 2019.
  23. ^ "UK Athletics Receives Record Gift". The University of Kentucky. August 18, 2006. Retrieved April 13, 2015.
  24. ^ a b "Hazard ARH Regional Medical Center Receives $1 Million Donation From Joe Craft". ARH Foundation.
  25. ^ "George Kaiser Family Foundation, Partners Give $350 Million for Park," Philanthropy News Digest.
  26. ^ "Joe Craft Football Training Facility to Be Named for Supporter". University of Kentucky Athletics. October 21, 2016.
  27. ^ "UK Board Accepts Joe Craft Gift to Gatton College's Institute for the Study of Free Enterprise". UKNow. June 21, 2019.
  28. ^ Terrel, Tres. "Indoor Practice Facility Project Gets Major Donation From The Craft's". Cats Coverage, LLC. Retrieved September 16, 2022.
  29. ^ "Joe and Kelly Craft". Giving Pledge.
  30. ^ "Spanx inventor Sara Blakely donates half her $250 million fortune". The World from PRX.
  31. ^ "Kentucky Entrepreneur Hall of Fame". www.entrepreneurhof.com.
  32. ^ "Ernst & Young's Entrepreneur of the Year Finalists". D Magazine. June 11, 2008. Retrieved November 23, 2020.
  33. ^ "TU Hall of Fame Inducts Business Leaders". Tulsa World. March 2, 2009. Retrieved November 23, 2020.
  34. ^ "Law Inducts Three New Members Into Hall of Fame". UKNow. November 23, 2015.
  35. ^ "Correll joins the ranks of Kentucky's most successful entrepreneurs". The Interior Journal. November 16, 2018.
edit
Retrieved from "https://en.wikipedia.org/w/index.php?title=Joe_Craft&oldid=1250879877"