Michael Grace Phipps (January 10, 1910 – March 13, 1973) was an American businessman, champion polo player, owner/breeder of racehorses, and a philanthropist.

[5] Phipps became a successful investor and would serve as a vice president of his family's Bessemer Securities Corporation and sit on the board of directors of W. R. Grace and Company, a company owned by his maternal grandfather's family.

On the death of his father, Michaell Phipps purchased his stable of horses from the Estate.

[6] Some of the successful Thoroughbreds owned and raced by Michael Phipps were Raja Baba and Gentleman James.

Michael Phipps served on the board of directors of Hialeah Park Race Track.