She was born in Tulsa, Oklahoma and married Selznick and stayed with him until his death in 1965. Her daughter with Selznick, Mary Jennifer, committed suicide, and this led to a suicide attempt by Jones, who, after recovering, became involved in mental health issues. Jones had first married actor Robert Walker, a coupling which produced two sons, both actors. The couple divorced in 1944, and Jones married Selznick in 1949. Following his death, she married milionaire industrialist and philanthropist Norton Simon in 1971, and stayed married to him until his death in 1993. She is currently on the board of directors of the Norton Simon Museum.
She is a breast cancer survivor.