His father Rómulo O'Farrill Senior founded the Novedades newspaper and owned the first commercial TV station (XHTV, Canal 4) through his company Televisión de México. With engineer Guillermo González Camarena and businessmen Emilio Azcárraga Vidaurreta, Ernesto Barrientos Reyes and Miguel Alemán Valdés as partners, they created the Telesistema Mexicano, S.A. company. Later on, in partnership with Emilio Azcárraga Milmo and Miguel Alemán Velasco and Televisión Independiente de México, he created TELEVISA. He was also the honorary consul of Ireland in Mexico.
He learned English and graduated from Saint Anselm College in 1937.
Married to Hilda Avila Camacho, daughter of General Maximino Ávila Camacho for 60 years, he fathered six children, only four of whom survived: Víctor Hugo, Hilda Gloria, José Antonio and Roberto. He has 10 grandchildren: Víctor Hugo Jr., Claudia Lorenza, Ana Paula, Caroline, José Antonio Jr., Christian, Francesca, Patrick, Hilda Romy and Roberto Jr.
- O'Farrill, Rómulo Antonio (Jr.) (1917-2006), media entrepreneur in: Irish Migration Studies in Latin America 5:1 (March 2007), pp. 82-83.
A bridge and a street in Mexico City are named after him.
Through his life, Romulo helped numerous institutions, such as the Red Cross, orphanages, children's hospitals, etc.
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