Leroy was born on April 6th, 1942, in Madison, Wisconsin, to Thomas and Evelyn Phipps. Leroy earned a Bachelor of Economics from the University of Wisconsin. After spending several years in the United States Army, Leroy traveled to Chicago to begin his career as a commodity trader at the Chicago Board Of Trade.
Later in life, Leroy settled in the Chicago suburb of Winfield, where he and his wife Suzanne raised their two sons, Thomas and David. Outside of work and family, Leroy enjoyed photography and gardening. He loved the tranquility of fishing and had a unique passion for cooking and entertaining. Leroy loved animals and would do just about anything for his dogs.
Leroy eventually retired from trading and moved to Austin, Texas, in 2002 to be near his sons and granddaughters. He enjoyed golfing and socializing in the church and took pleasure in the new friends and connections he made there.
Leroy found purpose in giving. Leroy was a member and donor of the Shriner and Freemason organizations. He actively participated in the Knights of Columbus and St. Vincent of DePaul charities, providing food and housing to those in need.
Leroy is survived by his wife, Suzanne, and their sons, Thomas and David.