Former Memphis University School’s Star QB and Co-Founder of NewSouth Capital Management, Trow Gillespie, Passes Away, Leaving Wife Elizabeth and Three Sons
The late Trow Gillespie was named Presbyterian Day School's 2017 Distinguished Alumnus.
September 8, 2026
This article was last updated by Alisha Shrestha on September 8, 2026
Paul Trowbridge Gillespie Jr., aka Trow Gillespie, a Memphis, Tennessee native and former collegiate football star, passed away on September 5, 2026, leaving his family, friends, and loved ones devastated.
While his family has not disclosed the cause of his untimely death, many of Paul’s friends and loved ones are paying tribute to the late Trow Gillespie and extending their heartfelt condolences to his family during this difficult time.
Memphis University School took to its official social media to pay tribute to its former football star and longtime board of trustees.
The post reads:
“We join the family of P. Trowbridge Gillespie, Jr. in mourning his passing September 5. A member of the Class of 1965, Trow leaves a strong legacy at Memphis University School, from his days as captain and quarterback of the football team to his 30 years on the Board of Trustees. Highlights of his board service include his tenure as chairman and his key role in Doors to New Opportunities, a campaign that led to historic campus upgrades early this century. In recent years he provided leadership for the Legacy Forward Strategic Plan and Bold Vision Bright Future, a campaign that is once again reshaping the campus.”
Trow Gillespie won the heart of many with his amazing athletic skills playing football in high school and later at Memphis University School.
As a team captain and star quarterback, he led his team to several victories. Paul Trowbridge Gillespie Jr. graduated from the Memphis University School in 1965.
Although he didn’t pursue his athletic career professionally, Trow continued to contribute to his alma mater as a member of the Board of Trustees for three decades, also serving as the chairman.
He further continued his career in the. Trow Gillespie co-founded Southeastern Asset Management Inc. in 1975, where he also served as the vice president and secretary.
After co-founding Southeastern Asset Management, Inc. for 10 years, Trow Gillespie co-founded NewSouth Capital Management, Inc. in 1985, where he served as president until his recent death.
Trow Gillespie is Survived By His Longtime Wife, Elizabeth Johnston Gillespie, Three Sons, and The Whole Family
Trow Gillespie was not just a great businessman and athlete, but also a devoted husband to his longtime wife, Elizabeth Johnston Gillespie.
The couple was married for decades and welcomed three sons together: Paul Trowbridge Gillespie III, John Marston Gillespie, and Stuart Johnston Gillespie.
While Elizabeth didn’t share any statement regarding the untimely demise of her longtime husband, as she is currently grieving the loss, Trow’s son, Paul Gillespie III, took to his social media to pay tribute to his late father.
The post reads:
“My dad was my hero. He was the greatest role model any son could ask for. He lived a life of service to others. When I think of all he did for MUS and Memphis, I am reminded of the quote, “A society grows great when men plant trees in whose shade they know they shall never sit.” He believed it trying to give back more than he was given, and he did. He had such an incredible impact on all those he knew and the many organizations he served. I will miss him every single day.”
Paul Gillespie III, a 2001 graduate of Memphis University School, his late father’s alma mater, has been serving as the vice president and senior client portfolio manager of Nuance Investments, LLC in the Greater Memphis Area since 2014.
Prior to that, he served as a salesperson at Wunderlich Securities and Morgan Keegan. He also attended Vanderbilt University.
Similarly, late Trow Gillespie’s two other sons, Stuart and John, are also thriving in their respective careers.
Stuart, a 2004 graduate of Memphis University School, has and the owner of Imogene Holdings, LLC since 2019.
He earned his bachelor’s degree fron Vanderbilt University in 2008 and his Juris Doctor from the University of Colorado in 2011.
Prior to owning his own company, Stuart served as an investment analyst at First Avenue Partners and Graian Capital Management, LLC. He also served as the equity research associate of Wells Fargo Securities and Stephens Inc.
Talking about Trow’s third son, John Gillespie, is a renowned American politician. A member of the Republican Party, John Marston Gillespie has represented the 97th District in the Tennessee House of Representatives since January 2026.
He was reelected in 2026. John began his career in finance, working for two local banks in Tennessee. He later transitioned into a position where he writes and researches grants for Trezevant Manor, a senior living facility in Memphis.
Born on January 17, 1987, in Memphis, Tennessee, John graduated from High Point University in North Carolina, earning his Bachelor of Arts degree in Political Science.
In addition to his wife and sons, Trow Gillespie is survived by his sister, Grace ‘Gaye’ Gillespie Henderson and husband Haywood, nieces and nephews, and the whole family.
He was preceded in death by his parents, Dorothy Anderson Gillespie Pennepacker and Paul Trowbridge Gillespie, and stepfather, Reverend Canon Wallace M. Pennepacker.
In Case You Didn’t Know
- Late Trow Gillespie was a member of St. John’s Episcopal Church and served on the boards of ArtsMemphis, New Memphis, and the Trezevant Foundation.
- His family has yet to provide details about his funeral and memorial services.
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Suruchi is a business management student with a strong passion for writing, particularly when it comes to sports. She loves creating articles and blogs that explore various aspects of the sports world. With a curious mind and a love for both academics and creativity, she constantly seeks to expand her knowledge and share her insights through her writing.
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