Philip E. Orbanes is a board game designer, author, founding partner and former president of Winning Moves Games in Danvers, Massachusetts. Orbanes is a graduate of the Case Institute of Technology (now Case Western Reserve University). He was a Senior Vice President for Research and Development at Parker Brothers until the 1990s. Orbanes has also served as Chief Judge at U.S. National and World Monopoly tournaments.

In 1988, Orbanes published the first edition of his book The Monopoly Companion. In the book, all of the characters that appear on the Monopoly board or within the decks of cards received a name. Uncle Pennybags' full name was given as Milburn Pennybags, the character "In Jail" is named "Jake, the Jailbird", and the police officer on Go to Jail is named "Officer Mallory".

In 1999, Rich Uncle Pennybags was renamed Mr. Monopoly. During the same year, a Monopoly Jr. CD-ROM game was released within cereal boxes as part of a General Mills promotion. This game introduced Mr. Monopoly's niece and nephew, Sandy and Andy.According to the book, "The Monopoly Companion", Mr. Monopoly has a second nephew named Randy, although the book mistakenly refers to Sandy as a boy. "Monopoly: The World's Most Famous Game & How It Got That Way" also states that Mr. Monopoly has a wife named Madge.He is named as the sixth richest fictional character in the 2006 Forbes Fictional 15 list on its website and the ninth richest in 2011.

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