Born in Lund, Sweden, Rausing is the eldest child of Swedish industrialist Gad Rausing (1922–2000) and his wife Birgit (née Mayne). She is the granddaughter of Ruben Rausing (1895–1983) who was the founder of the liquid food packaging company Tetra Pak. Her father bought out the 50% share in the company from his brother Hans Rausing in 1995, leaving her side of the family as sole remaining owner of Tetra Pak. She is the granddaughter of Swedish landscape painter Henry Mayne (1891–1975).
