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In Memory of Arthur Lipper III
December 24, 1931 – July 13, 2025
A Legacy of Insight, Innovation, and Integrity
With deep respect and heartfelt remembrance, we mark the passing of Arthur Lipper III, who passed away at his home near San Diego on July 13, 2025.
Arthur was a visionary financier, an inventor of new pathways in global capital, and a tireless advocate for ethical and accessible finance. Over the course of more than six decades, his work influenced industries, governments, and entrepreneurs around the world—from Wall Street to Hong Kong, from London to Beijing, from Lebanon to Singapore.
To those of us who knew him personally, Arthur was more than his resume. He was a friend, a teacher; curious and fearless, carrying his intellect humbly and his humanity deeply.
His dedication to the United States Marine Corps, in which he served as a young man in Korea, led the Corps to dedicate a wall of photograps to him in Camp Pendleton, California. He earned medals for valor, and carried the wounds of combat with him his entire life. Arthur was the epitome of the unsung hero. Semper Fi always got Arthur’s undivided attention.
Here is a talk he gave at Fort Pendleton:
http://www.pacificroyalties.com/presentation/arthur-lipper-first-marines/
We had the privilege of walking beside Arthur—both figuratively and literally. Together with his beloved wife Anni, my wife and I, Xiaofang, stood on the ancient stones of the Great Wall of China, sharing stories, laughter, and the quiet joy of companions who understand one another.
Arthur was also a founding advisor to the Zhou Enlai Peace Institute, speaking on our behalf on many occasions. He believed in our mission to build bridges of peace through cultural understanding; he offered his guidance and unwavering support with both candor and warmth, through the Board of Advisors:
http://www.zhouenlaipeaceinstitute.org/contact/participants/
Here is a talk Arthur Lipper gave at the Pasadena Convention Center, on the 35th Anniversary of the re-establishment of diplomatic relations between China and America. He talked about Peace, Profit and the Five Principles of Peace of Zhou Enlai:
http://www.zhouenlaipeaceinstitute.org/five-principles-of-peace-2/peace-profit-five-principles/
We worked alongside him on groundbreaking financial initiatives with CITIC Bank and the Tianjin Foreign Assets Exchange, where his insights and creativity opened doors for cooperative finance in China and beyond. Here is a video of his talk in Tianjin:
http://www.asiapacificgroup.us/royalties-seminar-17/tianjin-ppp-royalties-press/arthur-lipper/
Here is a white paper, published jointly with CITIC Bank, about finance of Public-Private Partnerships in China:
http://www.asiapacificgroup.us/news/new-textbook-on-revenue-royalties-published-by-arthur-lipper/
For years, he was as a mentor and steady presence—always generous with his praise, and encouraging in moments of challenge. His letters and reflections often contained a note of gentle, self-deprecating humor, or a well-placed question that invited us to think more clearly.
We are grateful to have known Arthur. He supported non-profit organizations in the arts, culture and health without public notice.
We are better for having walked this life with him, and the world is wiser for of his contributions.
Arthur Lipper leaves a financial and moral legacy. He knew that business could be both profitable and principled, and this guided his many innovations, especially in revenue royalties, a model he developed to provide capital for entrepreneurs without burdening them with debt. Here is a collection of websites that he developed with us, forming the Royalties Analytical System:
And here is a representative sample of 160 papers, and a dozen books, that we worked with him to edit and present:
http://www.royalties.website/home/arthur-lipper-library/
Arthur once said to us that ideas are like seeds: they require care, clarity, patience, and the right conditions to grow. His life was a living garden of such seeds—tended with intellect, nurtured with vision, open to the sun.
Our thoughts are with Anni Jensen-Lipper and the entire Lipper family — sons Greg and Chris, brothers Michael and Robert, and sister Susan — at this moment of transition. May you find comfort in the light Arthur shared, which you helped to ignite and suistain.
Farewell, dear friend.
May your journey continue in the realm where wisdom shines, and peace is complete.
Michael North and Zhou Xiaofang, July 14, 2025
