LADY (Mary) Fairfax has died aged 95, passing away peacefully at her home on Sunday night.
Lady Fairfax was the wife of Sir Warwick Oswald Fairfax, who died in 1987 and was an influential figure in Fairfax Media.
She married Sir Warwick in 1959 and together the couple had three children.
Born Marie Wein, she was the daughter of Polish Jews and came to Australia in the late 1920s to escape widespread anti-Semitism in Europe.
During her schooling, Mary won prizes for chemistry and history at Presbyterian Ladies' College, Croydon.
The family set up a frock shop in Oxford Street, Darlinghurst, which Lady Fairfax came to own.
She owned several dress shops in Sydney during her first marriage to Cedric Symonds, whom she divorced in 1958.
She was widely recognised for her service to the community and was appointed an Officer of Order of the British Empire in 1976.
She was also appointed a Member of the Order of Australia in 1988.
In 2005, she was made a Companion of the Order of Australia recognising her service in a range of areas including medical research and healthcare.
Famed for her generosity, on the occasion of her 80th birthday, Lady Fairfax donated $750,000 to the St Vincent's Foundation and $250,000 to the Garvan Foundation to help fund research into hearing problems.
Lady Fairfax was also known for her strong association with the arts, serving as president of the Australian Opera Foundation and the Friends of the Australian Ballet.
A statement from her family asked that their privacy be respected.
"Her health has been deteriorating significantly recently," the statement said.
"Members of the family have gathered at 'Fairwater' [Lady Fairfax's estate in Point Piper>[/embedp>