Taylor was married and divorced twice. In 1945, Taylor married the former Mary Ann MacCarthy, and the couple had two children:
Andrew C. Taylor, who is the executive chairman of Enterprise, and Jo Ann Taylor, who runs the Taylor family philanthropic activities. In 1978, Taylor's first wife married E. Desmond Lee, a widower and a prominent businessman and philanthropist in his own right. Taylor died on July 2, 2016, in St. Louis at the age of 94. == Honors ==