He was one of twelve children born to of Jacob Peter Meyer (1781–1856) and Ingeborg Marie Barth Muus (1781–1835).[3] Thorvald Meyer also built a personal fortune primarily on real estate development in Oslo and also in forestry including forest properties at Nord-Odal in Hedmark.Thorvald Meyers gate, one of the main thoroughfares running north to south through the district of Grünerløkka, was named in his honor.A new residence was completed for the family in 1869 based upon designs by architect Wilhelm von Hanno (1826–1882).Their daughter Thea Meyer (1846–1922) was married to Prime Minister Christian Homann Schweigaard.
