May 21, 2014 21:03
The Rolling Stones' former manager dies aged 80
Prince Rupert Loewenstein passes away after a long battle with illness
Ferdinand, full name Prince Rupert Ludwig Ferdinand zu Loewenstein-Wertheim-Freudenberg, was also a long-term financial advisor to the band. He is understood to have died peacefully in the early hours of yesterday (May 20) after a battle with a long illness, reports Music Week.
Loewenstein is credited with turning around the band's financial fortunes from the late 1960s. During almost four decades of handling the Stones' affairs he helped frontman Mick Jagger alone amass an estimated fortune of £200 million.
His advice in the early 1970s prompted the band to abandon their UK residence for the south of France, helping them save millions while becoming Britain’s first musical tax exiles. He ended his business relationship with the band four decades later, in 2007.
He was born in Majorca in 1933 to Prince Leopold of the royal house of Wittelsbach, but was educated in England and studied History at Magdalen College in Oxford before going on to work in the City.
His funeral will be held on Friday (May 30) in London.
Earlier this year Jagger's girlfriend L'Wren Scott also died after she committed suicide by hanging.
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