Marinho was born Lily Monique Lemb in Cologne, Germany, on May 10, 1921.[2] She was the only daughter of British soldier John Lemb and his French wife, Jeanne Bergeon.[2] She was born in Germany because her father was stationed in the country during the post-World War I period.[2] However, she was raised in Paris.[2] During her life, Marinho was married to two of Brazil's wealthiest men - Horacio de Carvalho and Roberto Marinho, who both owned newspapers.[2] Her second husband, media mogul Roberto Marinho, died in 2003.
Lily Marinho died of respiratory failure on January 5, 2011, in Rio de Janeiro at the age of 89.[1][2] She had been hospitalized at the Clínica São Vicente in the Gávea neighborhood of the Southern Zone of the city since December 14, 2010.[2] She was buried in the Cemitério São João Batista in the Botafogo neighborhood of Rio de Janeiro.[2]