Levi Lipman was born at the end of the 18th century in Kurland (now a part of Latvia). There is no information concerning the beginning of his career, but we can assume that Lipman was engaged in financial affairs and was successful in business. He was very close to another member of the court - the most famous of Anna Ioannovna's favorites, Biron to whom he rendered financial services. In 1730 when Anna Ioannovna ascended to the Russian throne Lipman, together with Biron, moved to Russia.
In Russia Lipman received the official title "Commercial Agent of the Tsarina's court". When Biron became the Duke of Kurland he charged Lipman with financial administration of his duchy. Biron, according to legend, would not make a decision on any of the important matters handed him by the Tsarina without first consulting Lipman. This was the reason why one foreign diplomat wrote, "It's really Lipman who is ruling Russia".
Conspirators preparing a plot to enthrone Elizabeth, hated Lipman as Biron's confidante, and were planning to let the mob tear him to pieces. However, he managed to save not only his own life and stay in Russia after the exile of his patron Biron, but also to keep his position at court.
Only a very small number of documents concerning Lipman's links with the Jewish community are extant. But it is known that he helped his fellow Jews, not to mention that his own close associates were Jewish.
One episode assosiated with Lipman is how he helped Kushiel Hirschov get back his son. Berk had been taken by force from his father, a Jew from Shklov. His father applied to the authorities but was unable to get his son back. Hirschov approached Lipman and the latter made a request to the Cabinet of Ministers which was granted. The last mention of Lipman's name appeared in the city newspaper "Vedomosti" of 1743 where it was noted that Lipman was still occupying the position of "Commercial Agent of the Tsarina's court". The exact date of Levi Lipman's death is not known.
Supposedly he died about 1745.