Gatton, a native of Muhlenberg County, enrolled at the University of Kentucky after high school, majoring in business administration, and graduated from the College of Commerce in 1954.
In 1959 he opened his first auto dealership in Owensboro. He moved to Tennessee and grew his business, the Bill Gatton Automotive Group.
In 1995, Gatton made a gift to the College of Business and Economics which was the largest gift to the University of Kentucky in its history. Later, in his honor, the Board of Trustees named the college “The Carol Martin Gatton College of Business and Economics.”
Gatton received numerous awards. He is a member of the Gatton College Alumni Hall of Fame and the University of Kentucky Hall of Distinguished Alumni.
Funeral arrangements for Bill Gatton are pending.
