Cornett was born on July 2, 1890, in Knott County, Kentucky.
In 1955 he was elected as State Representative in Kentucky and he once played his composition “Old Age Pension Blues” on the floor of the Legislature.
On January 12, 1960, he died of a heart attack while playing his banjo in a Frankfort, Kentucky, restaurant.
Banjo Bill was thought to have originally written “Man of Constant Sorrow”, made famous by Alison Krauss & Union Station.
Early memories from his family recall him singing and picking the song around the house.