Alexander Grigorievich Eliseev, born in 1839 and died on August 23, 1918, in Petrograd, was the grandson of the founder of the dynasty, Peter Eliseevich Eliseev. He held the position of secret advisor and was a co-owner of the family business, as well as a member and chairman of the boards of the St. Petersburg Private Commercial Bank and the St. Petersburg Accounting and Loan Bank.

Alexander received his education at Petri School, after which he began working with his father. In 1883, he exited the ownership of the trading house 'Brothers Eliseevs,' receiving his share of the family capital, likely with the family's consent for further business development. He declared capital in the 1st guild and remained in this rank until 1917.

Together with his father, Alexander participated in the establishment of the St. Petersburg Private Commercial Bank and headed its board from 1882 to 1884. After his father's death, from 1893, he became a member of the St. Petersburg Stock Exchange Committee, and in 1894 he was elected a member of the State Bank council from the stock exchange merchants, dealing with state finance issues until 1903.

For a long time, Alexander Grigorievich lived in one of his father's houses on Vasilievsky Island. In 1892, he sold 11 stone granaries in the New Exchange Gostiny Dvor to his brother and acquired a house on French Embankment, 24, and Gagarin Street, 1. The house, known since the 18th century, previously belonged to Baron Meller-Zakomelsky and the Counts Kushelevy-Bezborodko. Eliseev bought it from Prince Mikhail Sergeyevich Volkonsky. In 1893, architect A. K. Gammerstedt reconstructed the left part of the house, where the Eliseev family settled.

After Alexander Grigorievich's death in 1918, an inventory of his apartment was made, consisting of 23 rooms and several utility rooms. The apartment contained four bedrooms, the owner's and hostess's studies, a dining room, a billiard room, and several living rooms, one of which housed a collection of 56 bronze figurines. There was also a gallery with 18 oil paintings and 44 icons in precious settings. In the owner's personal room, there was a small collection of silver and his orders. The fate of the property is unknown, while other apartments in the house were rented out.

Alexander Grigorievich served in the Department of Institutions of Empress Maria and was a member of the council on educational affairs at the Ministry of Finance. In 1896, he completely exited the family trading business and received the rank of actual state councilor. From 1887 to 1913, he was a member of the Commercial School council, and in May 1896, he was appointed chairman of the Petrov Society for the Promotion of Commercial Education.

Among the educational institutions he supported was the House of Charity and Education for Poor Children in St. Petersburg, which included a vocational school for boys and a women's handicraft school. His first donation to the House of Charity was made in 1883, establishing a scholarship in his name. In 1889, he donated capital for another scholarship, and in January 1893, he allocated 25,000 rubles for the establishment of four scholarships in his father's name. In 1903, he added 12,000 rubles to the capital, the income from which was distributed among the scholarship holders.

Since 1879, Eliseev was an honorary member of the Protection Community of Sisters of Mercy, and from 1891, he became a trustee of the Stock Exchange Barrack Hospital in memory of Alexander II.

In 1886, for his services to the city, he was confirmed in the title of honorary citizen of Oranienbaum. In 1895, at his own expense, he opened a free handicraft school on Vasilievsky Island, which was named after him. In 1908, no longer in government service, he received the rank of secret advisor for creating the school.

Despite the ranks and awards that entitled him to hereditary nobility, Alexander Grigorievich, as the eldest of the Eliseev merchant family, remained in the merchant class until the end of his life for principled reasons.