Southwest Virginia businessman and philanthropist McGlothlin dies

Jim McGlothlin, a former coal magnate, backer of Virginia’s first casino and a prominent philanthropist, has died at the age of 85.

A part-time resident of Bristol, Virginia, and a native of Buchanan County, McGlothlin was an attorney educated at William & Mary and its law school who purchased a Buchanan coal company at auction in 1970 with six partners. That developed into United Coal Co., which became a billion-dollar business by the time it was sold in 2009 to a Ukrainian billionaire.

After the coal mine sale, The United Co., where McGlothlin remained CEO, chairman and sole owner for more than a decade, diversified into a hospitality and wealth management company. Among other ventures, it held a stake in the Bristol-based Hard Rock Hotel & Casino, which opened in 2022 as a temporary resort at the Bristol Mall.

That was the state’s first casino to open after the legislature legalized casinos in 2020, and McGlothlin and business partner Clyde Stacy were instrumental in moving the previously reluctant state toward legalization. In November 2024, the permanent, $515 million casino opened its doors.

In addition to his business accomplishments, McGlothlin and his wife, Frances Gibson McGlothlin, became major art collectors specializing in 19th and 20th century American paintings, nearly 90 of which they donated to the Virginia Museum of Fine Arts in Richmond, a gift worth about $250 million. The McGlothlins made other large financial donations to the museum, including $30 million for its 2010 expansion and nearly $60 million in 2022 for a new wing.

The couple also has made generous donations to William & Mary, where they are both alumni, funding the McGlothlin Leadership Forum, which brings industry leaders as speakers to the Williamsburg campus.

The McGlothlins also donated millions to VCU Health and Mountain Mission School, a private school in Grundy started in 1921 to house and educate children in need. Jim McGlothlin began volunteering there in 1966 as a young lawyer and was on its board of directors at the time of his death.

McGlothlin also was behind the founding of The Olde Farm golf course in Bristol, where a celebrity tournament drew such luminaries as golf legends Jack Nicklaus and Gary Player and NFL stars Peyton Manning and Dan Marino. In 2018, the tournament raised $56.6 million for Mountain Mission School, the largest single-day charitable gift in PGA Tour history.

He was named the 2022 Virginia Business Person of the Year, and in an interview with Virginia Business, McGlothlin said he and Stacy, whom he had known since high school, decided late last decade that Southwest Virginia needed something big to employ residents after coal mining jobs were quickly disappearing. That “something” turned out to be a casino, even though Virginia had not yet legalized them.

“We called it ‘the moonshot,’ and it had to be big,” McGlothlin said in 2022. “It couldn’t just be another place to employ 40 people [because] we were going downhill — anybody could testify our debt was just escalating. The political people were difficult, but as time went on, they began to see this could have a big effect on investment in tourism.”

The United Co. released a statement about McGlothlin on Wednesday, noting that his philanthropy extended to many other local causes through the company’s foundation, including The Soup Kitchen and Morrison School.

“As The United Co.’s founder, Mr. McGlothlin was the company’s driving force for over 50 years,” the company said in a statement. “Mr. McGlothlin’s love for his family, the company and its employees, and his Southwest Virginia community ran deep.” 

Jim Allen, chairman of Hard Rock International, issued a statement Wednesday commemorating McGlothlin. “On behalf of the entire Hard Rock family, we extend our deepest condolences to Mr. McGlothlin’s family and loved ones. His determination, integrity and generosity left a profound mark on all of us, and his legacy will live on through the incredible impact he made — in Bristol, across Virginia and in the lives of so many.”

William & Mary President Katherine Rowe also paid tribute to McGlothlin. “A distinguished William & Mary alumnus and innovator in business and law, Mr. McGlothlin sought to advance prosperity throughout the commonwealth. At his alma mater, Mr. McGlothlin served two terms on the board of visitors. Deeply committed to the success of others, he launched scores of talented students on their professional pathways.”

McGlothlin, who is survived by his wife, three children and six grandchildren, served on many corporate and organization boards, including Bassett Furniture, the PGA Tour, CSX and First Tee.

“Coming from humble beginnings and rising to a titan of industry, Jim embodied the American dream,” Gov. Glenn Youngkin said in a statement. “Alongside his wife, Fran, they used that success to dedicate their time and treasure to changing the lives of countless Virginians. Their commitment to the Virginia Museum of Fine Arts enriches the culture of our commonwealth. Their support for the Mountain Mission School in Grundy provided a beacon of hope to generations of children. Their support for William & Mary and VCU Health enables students to reach their dreams and have a daily impact on patient care and medical training.”