Born into poverty on a ranch in Lobatos, Mexico, Bañuelos illegally crossed the border when he was 13, drawn by the fervent desire to help his family by becoming a great horseman. Through years of sacrifice and hard work, Ascencion has gained world renown as a champion cutting horse competitor, earning millions and is the first Mexican American to be inducted into the National Cutting Horse Assoc. Hall of Fame. Ascencion embodies the story of America itself, where hard work can build a legacy of greatness. 

Ascension married his riding partner, Tiffani and together they have 3 children. Their son, Adan, won the 2020 Futurity and has current winnings in excess of 3.7 million dollars. They own and operate a multi-million dollar training facility in Granbury, Texas.