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Meyer was the son of Marjorie Amy Georgina (née Seeley) and Sir Frank Cecil Meyer. His father was vice-chairman of the De Beers diamond company, and from 1924 to 1929 he was Conservative Member of Parliament for Great Yarmouth, Norfolk. His father was from a Jewish family. His grandfather, Sir Carl Meyer, 1st Baronet, was born in Hamburg, Germany; he migrated to Britain in the late 19th century, when he worked for the Rothschilds, and later for De Beers; he eventually became Governor of the National Bank of Egypt and was given a baronetcy for the large donations he made to found a National Theatre in Britain.