He is the president and chief executive officer of Alliance Resource Partners, L.P., the third-largest coal producer in the eastern United States.

[8] Craft began his career at Mapco Inc, a pipeline company that had diversified into other energy sectors, based in Tulsa, Oklahoma.

[11] The buyout involved Mapco selling a 75% stake in the coal division to the Beacon Group Energy Investment Fund.

[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.

[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.

[31] In 2008, Craft was named the Ernst & Young Entrepreneur of the Year for the Southwest Region energy, chemical, and mining category.