Myer Myers was one of twelve children born to Moses and Eliza Judah Myers, preceded by older brothers John and Samuel. Like his brothers, Myer worked for the family firm, and spent several years traveling the world representing the Myers company. In 1816, he went to Jamaica, from which he sailed to New York, and then on to England and Europe, where he spent five years. One of his tasks during this trip was to discover the fate of a tobacco shipment sent to Norway for which they had never been paid. When he did eventually track it down, he kept the $5,000 dollars recovered as compensation and would use this to go into business for himself. He also dedicated much of his time in Europe to an ultimately unsuccessful plan to establish a trade route between Bremen, Santo Domingo, and Norfolk.

When he returned to the United States, Myer settled in Richmond. There he married Judith Marx, daughter of Joseph and Richea Myers Marx, whose older sister Louisa had married Myer’s older brother Samuel. The couple never had any children. Myer served as president of the Bank of Virginia and consul to Great Britain.