Raised in Leslie County, Whitaker had humble beginnings as a miner but quickly became a self-made billionaire, founding Whitaker Bank, which now operates in more than 17 counties in Kentucky.

After graduating from Viper High School at the age of 16, Whitaker started work on a nearby coal mine.

Whitaker and his father soon bought an interest in a mine in Leslie County, where they reportedly worked 17-hour days.

Eventually, one mine grew into Whitaker Coal Corp, the proceeds of which he put into his soon-to-be banking empire.

In 1978, he bought three bank charters including People's Bank and Trust in Madison County.

The bank was able to buy out competitors and became one of the largest in Kentucky, employing more than 500 people.

Whitaker’s total assets are believed to be worth more than $US2 billion ($A2.13 billion).

In Kentucky, Whitaker was well known for his charitable offerings.

He built a gymnasium for a school in Perry County and was a donor to many colleges, providing scholarships that enabled athletes to continue their education.

In 2011, he was one of the first inductees into the Appalachian Mountain Coalfields Hall of Fame.