American banker (Mellon Bank), philanthropist, art collector and horse breeder.

Paul Mellon bred the great Mill Reef at his Rokeby Stud in Virginia.

His American horses won three Triple Crown races including one Kentucky Derby (Sea Hero in 1992) and two Belmont Stakes (Quadrangle in 1964 and Arts and Letters in 1969). He was the first owner to win both the English Derby (Mill Reef) and the Kentucky Derby (Sea Hero).

His other British horses included Glint of Gold, a son of Mill Reef, who won the Derby Italiano, Grand Prix de Paris and Great Voltigeur and finished runner-up to Shergar in the 1981 English Derby. His trainer in Britain was Ian Balding.

An Anglophile, he established the Yale Centre for British Art and, for many years, he helped run Washington's National Gallery of Art, which he founded in partnership with his father, Andrew Mellon.

He died in 1999, aged 91.