Prince Rupert Loewenstein, the Bavarian aristocrat who transformed the Rolling Stones from a near-bankrupt band into a billion-pound empire, has died at the age of 80. He passed away on Tuesday, having served as the band's financial advisor and manager for almost 40 years from 1968 to 2007.
Dubbed “the human calculator”, Loewenstein was credited with turning the Stones into multi-millionaires. His unlikely partnership with Mick Jagger was as crucial to the band's success as the Jagger-Richards songwriting duo. Without his guidance, it is believed the Stones might have folded years ago.
In his memoir, A Prince Among Stones, Loewenstein revealed how the band received paper bags stuffed with cash at gigs, became tax exiles in France, and fought a long legal battle with their former manager. He also described meeting Jagger while bored working for a merchant bank, noting they “clicked on a personal level”. Despite his financial acumen, Loewenstein admitted he was not a fan of rock music, finding the Stones' sound less harmonious than The Beatles.
Loewenstein is also remembered for introducing the Stones to promoter Michael Cohl, who masterminded the lucrative Steel Wheels tour in 1989. Joseph Rascoff, former colleague and now COO of SFX Entertainment, called him “one of the most generous, insightful and collaborative individuals I have ever met”. His funeral is expected next week, possibly attended by band members, though his book reportedly strained relations with Jagger.
