Elizabeth Lloyd Holzman was born May 23, 1904, in Cincinnati, Ohio to a Jewish lawyer and stockbroker, Alfred Holzman (August 20, 1867 – June 14, 1947) and his wife, Rachel Florence Workum Holzman (October 17, 1873 – April 22, 1966). Their other children were daughter Marion H. Holzman (January 25, 1901 – December 13, 1963) and son Alfred Paul Holzman (March 9, 1909 – April 19, 1992). In 1904, the wealthy family grew destitute after Holman’s uncle Ross Holzman embezzled nearly $1 million of their stock brokerage business. At some point, Alfred changed the family name from Holzman to Holman. She graduated from Hughes High School on June 11, 1920, at the age of 16. She graduated from the University of Cincinnati on June 16, 1923, with a Bachelor of Arts degree. Libby Holman later subtracted two years from her age, insisting she was born in 1906, the year she gave the Social Security Administration as the year of her birth. In the summer of 1924, Libby Holman left for New York City, where she first lived at the Studio Club. Her first theater job in New York was in the road company of The Fool. Channing Pollock, the writer of The Fool, recognized Holman’s talents immediately and advised her to pursue a theatrical career. She followed Pollock’s advice and soon became a star. An early stage colleague who became a longtime close friend was future film star Clifton Webb, then a dancer. He gave her the nickname, “The Statue of Libby.” Her Broadway theatre debut was in the play The Sapphire Ring in 1925 at the Selwyn Theatre, which closed after thirteen performances. She was billed as Elizabeth Holman. Her big break came while she was appearing with Clifton Webb and Fred Allen in the 1929 Broadway revue The Little Show, in which she first sang the blues number, “Moanin’ Low” by Ralph Rainger, which earned her a dozen curtain calls on opening night, drew raves from the critics and became her signature song. Also in that show she sang the Kay Swift and Paul James song, “Can’t We Be Friends?”

The following year, Libby Holman introduced the Howard Dietz and Arthur Schwartz standard “Something to Remember You By” in the show Three’s a Crowd, which also starred Allen and Webb. Other Broadway appearances included The Garrick Gaieties (1925), Merry-Go-Round (1927), Rainbow (1928), Ned Wayburn’s Gambols (1929), Revenge with Music (1934), You Never Know (1938, score by Cole Porter), during which production she had a strong rivalry with the tempestuous Mexican actress Lupe Vélez; and her self-produced one-woman revue Blues, Ballads and Sin-Songs (1954). One of Holman’s signature looks was the strapless dress, which she has been credited with having invented, or at least being one of its first high profile wearers. Libby Holman had a variety of intimate relationships with both men and women throughout her lifetime. Her famous lesbian lovers included the DuPont heiress Louisa d’Andelot Carpenter, actress Jeanne Eagels and modernist writer Jane Bowles. Carpenter was to play a significant part throughout Holman’s lifetime. They raised their children and lived together and were openly accepted by their theater companions. She scandalized some by dating much younger men, such as fellow American actor Montgomery Clift, whom she mentored. Holman took an interest in one fan, Zachary Smith Reynolds, the heir to the R. J. Reynolds tobacco company. He was smitten with her from the start, despite their seven-year age difference. They met in Baltimore, Maryland in April 1930 after Reynolds saw Holman’s performance in a road company staging of the play The Little Show. Reynolds begged friend Dwight Deere Wiman, who was the show’s producer, for an introduction to Holman. Reynolds pursued her all around the world in his plane. With the persuasion of her former lover, Louisa d’Andelot Carpenter, Holman and Reynolds, who went by his middle name, married on Sunday, November 29, 1931 in the parlor of a house in Monroe, Michigan. Reynolds wanted Holman to abandon her acting career, she consented by taking a one-year leave of absence. During this time, however, his conservative family was unable to bear Holman and her group of theater friends, who at her invitation often visited Reynolda, the family estate near Winston-Salem, North Carolina. Accusations and arguments among them were common.

Libby Holman married her second husband, film and stage actor Ralph (pronounced “Rafe”) Holmes, in March 1939. He was twelve years her junior. She had previously dated his older brother, Phillips Holmes. In 1940, both brothers, who were half-Canadian, joined the Royal Canadian Air Force. Phillips was killed in a collision of two military aircraft on August 12, 1942. When Ralph returned home in August 1945, the marriage quickly soured and they soon separated. On November 15, 1945, Ralph Holmes was found in his Manhattan apartment, dead of a barbiturate overdose at age 29. Holman adopted two sons, Timmy (born October 18, 1945), and Tony (born May 19, 1947). Her natural son Christopher (“Topper”) died on August 7, 1950 after falling while mountain climbing. Holman had given him permission to go mountain climbing with a friend on California’s highest peak, Mount Whitney, not knowing that the boys were ill-prepared for the adventure. Both died. Those close to Holman claim she never forgave herself. In 1952 she created the Christopher Reynolds Foundation in his memory. In the 1950s, Holman worked with her accompanist, Gerold Cook, on researching and rearranging what they called earth music. It was primarily blues and spirituals that were linked to the African American community. Holman had always been involved in what later became known as the Civil rights movement. During World War II, she tried to book shows for the servicemen with her friend, Josh White, but they were turned down on the grounds that “we don’t book mixed company.”

In 1959, through the Christopher Reynolds Foundation, she underwrote a trip to India by Martin Luther King, Jr. and his wife, Coretta Scott King, both of whom became close friends with Holman and her husband, Louis Schanker. Holman also contributed to the defense of Dr. Benjamin Spock, the pediatrician and writer arrested for taking part in antiwar demonstrations. Her third and last husband was well known abstract artist/sculptor Louis Schanker. They married on December 27, 1960. Although Holman did not have to work after her marriage to Reynolds, she never completely gave up her career, continuing to perform and make records. One of her last performances was at the United Nations in New York in 1966. She performed her trademark song, “Moanin’ Low.” On June 18, 1971, Libby Holman was found nearly dead in the front seat of her Rolls Royce by her household staff. She was taken to the hospital where she died hours later. Holman’s death was officially ruled a suicide due to acute carbon monoxide poisoning. In view of her frequent bouts with depression and reported past suicide attempts, none of Holman’s friends or relatives was surprised by her death.