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Obituaries

Obituary: Lady Fairfax

Socialite who married into Australia's oldest newspaper-owning family

November 2, 2017 12:21
(Getty)
3 min read

Outsiders who marry into a dynasty often end up as the villains when things go badly wrong. And when John Fairfax and Son, Australia’s and the world’s oldest family-owned newspaper company, collapsed in 1987, many saw it as the result of Lady Mary Fairfax’s machinations.

Cast as a modern-day Lady Macbeth, Lady Fairfax, who has died aged 95, was blamed when, less than a year after the death of his father Sir Warwick Fairfax, her son ‘young’ Warwick Jr mounted a takeover bid to wrest control of the company from his half-brother James.

Warwick borrowed the eye-watering sum of AU$2.5 billion on the eve of a global stock-market collapse. Lady Fairfax, who had supported her son in the bid (while maintaining it was solely his idea), then sent him a note begging him to withdraw it. He threw away the note and went ahead anyway. In the space of three years, the company had collapsed. However, Lady Fairfax, who had made a complex but clever arrangement with her son in exchange for some of her shares, succeeded in preserving a substantial part of her fortune. By all accounts, she was extremely ambitious but also intelligent, vivacious and attractive. However, she had no WASP credentials.

Born Marie Wein in Warsaw she was the daughter of Anna Szpigielglass and Kevin Wein, the son of a miller. The family were Jewish: Lady Fairfax would later describe them as “strong Zionists” but “political Jews, not religious ones.” Having been brought up in an “agnostic home” she would in later life switch to Anglicanism and then Catholicism.