The Mississippi Sheiks consisted mainly of members of the Chatmon family, from Bolton, Mississippi, who were well known in the Mississippi Delta. The father of the family, Henderson Chatmon, had been a “musicianer” (someone with good technical ability on his or her instrument, adept at sight-reading written music) during slavery times, and his children carried on the musical spirit. Their most famous member (although not a permanent member) was Armenter Chatmon, better known as Bo Carter, who managed a successful solo career as well as playing with the Sheiks, which may have contributed to their success. Their last recording session as the Mississippi Sheiks was in 1936. Carter made a few more sessions on his own, but by 1938 he too was dropped. When the band dissolved, the Chatmon brothers gave up music and returned to farming.

Their 1930 blues single “Sitting on Top of the World” was inducted into the Grammy Hall of Fame in 2008. In 2018, it was selected for preservation in the National Recording Registry by the Library of Congress as being “culturally, historically, or artistically significant”

The title line of “Sitting on Top of the World” is similar to a well-known popular song of the 1920s, “I’m Sitting on Top of the World”, written by Ray Henderson, Sam Lewis and Joe Young (popularised by Al Jolson in 1926).

However the two songs are distinct, both musically and lyrically. Similarities have also been noted that “Sitting on Top of the World” was derived from an earlier song by Leroy Carr and Scrapper Blackwell, “You Got To Reap What You Sow” (1929). Tampa Red used the same melody in his version from the same year.

In May 1930, Charlie Patton recorded a version of the song (with altered lyrics) called “Some Summer Day” During the next few years renditions of “Sitting on Top of the World” were recorded by a number of artists: the Two Poor Boys, Doc Watson, Big Bill Broonzy, Sam Collins, Milton Brown and His Musical Brownies, and Bob Wills & His Texas Playboys. After Milton Brown recorded it for Bluebird Records the song became a staple in the repertoire of western swing bands.

Cream covered it in 1968.