The Giving Pledge of Joe Craft
October 25, 2012

The free enterprise system and a domestic economy dependent on private investment and economic freedom provided an opportunity for me to live the American dream. All Americans should have equal opportunity and the freedom to become financially independent, to create jobs and to contribute to economic growth. I am honored to take the Giving Pledge to advance this ideal and to give back to a country that allowed me to experience financial success and, more importantly, to foster relationships with others in the pursuit of prosperity.

My perspective is undoubtedly shaped by my own personal experiences. I was born and raised in Hazard, Kentucky, one of the poorest places in our country at the time. Politicians visited this area when I was young, preaching that government programs could pull people out of poverty. That never seemed to work.

I graduated from college and law school during the height of the energy crisis and witnessed a resurgence of private industry in otherwise impoverished Appalachia. Coal emerged as a key American source of energy to fuel economic growth. Coal brought jobs to Hazard and other parts of Kentucky and afforded me the opportunity to embark on a career in energy. I worked my way up and, with the help of others, eventually led a management buyout of a Fortune 500 company’s coal division and formed Alliance Resource Partners, L.P. (ARLP), the coal industry’s first publicly traded master limited partnership. Today, ARLP is the 3rd largest coal producer in the eastern United States. We grew our company by investing in low-cost resources, hiring talented and hard-working people and competing in the free market. Basic tenets of American enterprise—hard work, financial discipline and teaming up with great people—have allowed me to be in the position to take this pledge.

I do not claim to be unique. No one can accuse me of being born into a particularly privileged home. Opportunity presented by private enterprise and buttressed by a system of economic freedom allowed for my financial success. My hope is that this opportunity is available to anyone who chooses to embrace it in America.

Unfortunately, there are societal impediments, and sometimes our own government stands in the way. That makes this declaration easy. I am excited to think about breaking barriers and providing opportunities. In my view, this is how America was designed and meant to be, and we need to continually work to preserve the liberty that allows anyone among us to succeed.

I appreciate all of those who have already taken the pledge, and I encourage others to join in this honorable effort. I pledge 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.

 

Joseph W. Craft III