Mark Cornelison | UK Photo
Mike Richey, Bill Gatton and UK President Eli Capilouto at the dedication of the Gatton Student Center on August 31, 2018.
According to multiple reports, philanthropist and businessman Carol Martin "Bill" Gatton died April 18 at age 89.
Gatton operated the Bill Gatton Automotive Group, based in Bristol, Tennessee. Through the Bill Gatton Foundation, he also contributed substantial sums to support various charitable and educational organizations.
His gift to the University of Kentucky in 1995, the largest ever at that time, was instrumental in founding the UK Gatton College of Business and Economics. The Gatton Student Center is also named after him. His support of East Tennessee State University also led to the 2005 opening of the Bill Gatton College of Pharmacy.
"Bill Gatton was a Kentucky original," said University of Kentucky president Eli Capilouto. "Born and raised in small coalfield town, Mr. Gatton became an iconic businessman, who early on had fostered in him a lifelong belief in hard work, generosity and service. As part of that commitment, Mr. Gatton always saw his alma mater as a shining beacon — the place that could do the most to serve and make better his native state."
Born and raised in Bremen, Kentucky, Gatton attended Sacramento High School and graduated as valedictorian of his graduating class in 1950. He earned a bachelor’s degree in business administration from UK in 1954, and a master’s degree from the University of Pennsylvania. He moved to Bristol in 1969, where he purchased two automotive dealerships and grew the business to include nine dealerships in Tennessee, Alabama and Texas.
Gatton was also the former Chairman of the Board of Directors of Area Bancshares. During his tenure, it was the largest bank holding company headquartered in Kentucky. He is a former director on the boards of all seventeen subsidiary banks located throughout the Commonwealth.
Gatton is the recipient of numerous awards and is a member of the Gatton College Alumni Hall of Fame and the University of Kentucky Hall of Distinguished Alumni.
"He knew from his own life how important an education was and is to the future. And he endeavored to make such an education possible for thousands and thousands of students, most of whom will never know him or how much he was committed to their success," Capilouto said.
Funeral arrangements were pending at the time of publication.