Phillip Robert Mitchell Chancellor II was a wealthy man in Genoa City and head of Chancellor Industries. He was married to Katherine S. Chancellor. He began an affair with Jill Foster, who was employed by Katherine, and the two of them conceived a son, Phillip Robert Chancellor, III. Phillip divorced Katherine to marry Jill, but since Katherine never signed the divorce papers, Jill's marriage to Phillip was not recognized, and at the time of Phillip Chancellor, II's death in a DUI accident in which Katherine was driving, he was still legally married to Katherine. Katherine retained ownership of Chancellor Industries, which was to go to Phillip, III when he reached 21 years of age. Phillip Chancellor, III died in a DUI accident, as well, so Katherine still owns Chancellor Industries to this day. Neither Katherine nor Jill ever got over Phillip's death, and both are still in love with him. Phillip Robert Mitchell Chancellor, II is buried on the Chancellor Estate, as is Phillip Robert Mitchell Chancellor, III (but we don't know who is really buried in his casket because Katherine switched babies!) (Donnelly Rhodes played they role from 1974-1975).