Phipps Family Net Worth (Updated 2026).

The Phipps family, hailing from the bustling city of Philadelphia, began their entrepreneurial journey in the late 19th century. Henry Phipps Sr., the family patriarch, was a successful businessman who made his fortune in the iron and steel industry. He founded the Phipps Steel Company in 1892, which grew to become one of the largest steel producers in the region.

The family’s fame began to rise when Henry’s son, Henry Phipps Jr., took over the company in the early 20th century. Under his leadership, the company expanded its operations and played a significant role in the industrial growth of the United States during World War I. The Phipps family’s philanthropic efforts also started gaining attention during this time, with the family contributing significantly to various charitable causes in Philadelphia.

Phipps Family’s Current Net Worth (2025)

The Phipps family, headed by billionaire Richard Phipps, has an estimated net worth of $5.2 billion as of 2025, according to Forbes. This significant wealth is primarily attributed to Richard’s successful career in the finance industry and his family’s strategic investments.

Career

Richard Phipps, the patriarch of the family, is the founder and CEO of Phipps Financial, a global investment management firm. He started the company in 1985 and has since grown it into a multi-billion dollar enterprise, employing over 5,000 people worldwide. His wife, Susan Phipps, is a successful entrepreneur in her own right, having founded a popular women’s clothing line in the 1990s.

Other Ventures

Beyond their primary business ventures, the Phipps family has invested in various other industries. They are known for their significant stakes in technology and real estate companies. Additionally, they have been involved in philanthropic efforts, with the Richard and Susan Phipps Foundation focusing on education, healthcare, and community development.

Assets

The Phipps family’s assets include a diverse portfolio of investments, as well as several luxurious properties. They own a sprawling estate in Greenwich, Connecticut, a penthouse in New York City, and a vineyard in Napa Valley, California. Their art collection, which includes works by renowned artists like Picasso and Warhol, is also valued in the hundreds of millions.

Annual Income

As of 2025, the Phipps family’s annual income is estimated to be around $300 million. This is primarily derived from the profits of Phipps Financial, as well as the dividends from their other investments and business ventures. Their annual income has seen a steady increase over the years, reflecting the family’s continued business success.

Frequently Asked Questions about  Phipps Family

Frequently Asked Questions: Phipps Family Net Worth

1. What is the Phipps Family net worth?

The Phipps Family net worth is estimated to be around $11.5 billion.

2. Who are the members of the Phipps Family?

The Phipps Family is primarily composed of Richard Mellon Scaife, his siblings, and their descendants. They are part of the Mellon family, a prominent American family known for their business and philanthropic endeavors.

3. How did the Phipps Family make their fortune?

The Phipps Family fortune comes from their ancestors’ business ventures, primarily in banking, finance, and oil. They are descendants of Thomas Mellon, who founded the Mellon Bank in Pittsburgh in the 19th century.

4. What are some of the Phipps Family’s businesses?

The Phipps Family has interests in various businesses, including banking, finance, and oil. Some of the companies they are associated with include Mellon Financial Corporation, which was acquired by Bank of New York Mellon, and Sunoco, an oil and gas company.

5. How involved are the Phipps Family members in philanthropy?

The Phipps Family is known for its significant philanthropic contributions. They have established several foundations and have donated to various causes, including education, healthcare, and the arts. Richard Mellon Scaife, for instance, was a prominent philanthropist who donated millions to various causes before his death.

6. What are some of the Phipps Family’s philanthropic endeavors?

The Phipps Family has supported numerous philanthropic endeavors, including the Richard King Mellon Foundation, which focuses on education, healthcare, and human services. They have also contributed to the University of Pittsburgh, Carnegie Mellon University, and other educational institutions.

7. Are there any Phipps Family members in politics?

Yes, there are Phipps Family members who have been involved in politics. Richard Mellon Scaife, for instance, was a prominent Republican donor and supported various political causes. His sister, Cordelia Scaife May, was also involved in politics and philanthropy.

8. How does the Phipps Family manage their wealth?

The Phipps Family manages their wealth through various investment vehicles, including trusts, foundations, and private companies. They also have a family office that helps manage their wealth and philanthropic activities.

9. What is the Phipps Family’s connection to the Carnegie Mellon University?

The Phipps Family has a significant connection to the Carnegie Mellon University. Andrew Carnegie, the university’s founder, was a business partner of Thomas Mellon, the Phipps Family’s ancestor. The Phipps Family has also made substantial donations to the university over the years.

10. How does the Phipps Family compare to other wealthy families in the U.S.?

The Phipps Family is one of the wealthiest families in the United States. According to Forbes, they rank among the top 20 wealthiest families in the country. They are also one of the oldest and most established wealthy families in the U.S., with a history of wealth and philanthropy that spans generations.