Monday, April 11, 2016
Former Bessemer Trust Board Chairman Dinny Phipps Remembered
Danny Phipps, great-grandson of Henry Phipps, the partner of the steel magnate Andrew Carnegie, died Wednesday night at a hospital in New York City.
According to Forbes, the Phipps family is among the richest in the United States, with an estimated worth of $6.6 billion in 2015.
Much of that wealth came in managing Bessemer Trust, the private bank and investment advising firm it established in 1907.
Phipps was chairman of the board at Bessemer from 1976-94...