Reviewed: A Prince Among the Stones by Prince Rupert Loewenstein

His satanic Majesty: the man who managed the Rolling Stones' money.

A Prince Among the Stones: That Business with the Rolling Stones and Other Adventures
Prince Rupert Loewenstein
Bloomsbury, 272pp, £20

One of the best things about being in the Rolling Stones was that you got to go out with posh girls. Marianne Faithfull had roots in the Habsburg dynasty. Anita Pallenberg was the daughter of an artist in Rome and spoke four languages. “The younger members of the aristocracy discovered a new career by dropping out,” writes Prince Rupert Loewenstein.

The 25-year-old Mick Jagger, concerned that the Stones still weren’t seeing a decent profit from their music in 1968, decided to get a member of the Establishment to manage his money. He chose a 35-year-old banker descended from Bavarian aristocrats, whose ancestors had been involved in repelling the Huns. Prince Rupert had never heard of the Rolling Stones: he devotes the epilogue of his book to exploring why, to this day, he doesn’t like their music. “It is comfort food . . . But it moves millions. Why?”

This is one of the funniest rock books I’ve read, fuelled, in the way only an aristocrat’s memoir could be, by a sense of cheery entitlement and the random pursuit of amusement for its own sake. “I found shopping for New York lawyers to be hilarious,” he recalls. Getting the band out of their contract with the slippery Alan Klein (whose clients included the Beatles) is likened to a game of chess.

Under Loewenstein’s care, the Stones became the most profitable rock act in the world. He was quite literally responsible for their “exile” (as in Exile on Main St): he got them out of the UK and into the Villa Nellcôte in the south of France, paying a negotiated income tax to the Alpes-Maritimes authorities. Everything you have come to associate with the “rock aristocracy” – the suits of armour, the Tatler society pages and compulsive gift-aiding – it all starts here.

The prince got into banking in the first place because his family had lost all its money. In one of the engrossing passages about his childhood, he describes his mother disposing of an emerald necklace out of the window; when he is 14, she sends him off to sell a Balthus painting for £40 and spends the money on lunch. Faced with any display of rock-star excess, he’d seen much worse at home.

Characters from the new and old worlds collide with farcical consequences. Loewenstein uses a lot of deadpan reported speech: one of the finest society ladies of New Orleans leaves a Stones concert after half an hour, saying, “They are five ugly and pointless young men and I loathe their music.”

Loewenstein may share her feelings on the band’s output but manifests a strong affection for the individuals. He is “Mick’s man” but remarks, “Keith is, in a way, the most intelligent mind . . . His aura to me was that of a generation of circus folk . . . entertainers but also with something of the pilgrim.” Of the relationship between the pair, he makes the kind of psychological observations rock journalists never quite understand: their rifts amount to “a form of divorce, enormously complicated by being between two men each fighting to prove his sexual dominance”. Relations generally worsen, he observes, when Mick and Keith are not playing enough music together. When they turn up drunk to a near-disastrous meeting with CBS, he notes that at least they’re “enjoying that old antiauthority, band of brothers spark again”.

Loewenstein’s greatest impact on the Stones can be seen in the 1970s and beyond, when he transformed their tours into highly profitable juggernauts. He cleaned up mercilessly on complimentary tickets, scalpers and corrupt promoters, audited the cost of their entourage to the last penny and developed a precise hierarchy backstage to cut down on freeloaders – it was “just like a court: rivals, whispering, grades of status granting access, with others being used to fetch and carry”. He copyrighted their tongue logo, licensed “Satisfaction” for a Snickers ad and “Start Me Up” to Microsoft Windows; and the Stones became the first band to have an entire tour sponsored by one company (General Electric). He claims that, if he met with resistance from them, he’d reply, “What do you care? You’re selling a business product.”

The prince parted ways with the band in 2008, when they rejected his plans for a “takeover” of the Rolling Stones by an unnamed organisation “on the fringes of the entertainment industry”. The proposed deal would have brought them a big pile of cash and allowed them, as Loewenstein puts it, “to come into harbour”: now 75, he was worried about their future – Keith had fallen off a palm tree, then a ladder, while Mick, his insurer advised him, “ought to be put on the Pavarotti pile” (ie, only covered for three performances at a time). After 40 years of saying “yes”, the Stones said “no” to Loewenstein’s proposal – perhaps simply because he was imagining the day when they’d have to stop.

The Rolling Stones in London in 1964. Photograph: Getty Images

Kate Mossman is the New Statesman's arts editor and pop critic.

This article first appeared in the 04 February 2013 issue of the New Statesman, The Intervention Trap

ANGELOS TZORTZINIS/AFP/Getty Images
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Tsipras' resignation has left Syriza in deep trouble

Splinter group Popular Unity’s stated aim is to take Greece out of the deal Syriza struck with its creditors.

The resignation of Alexis Tsipras on 20 August was the start of a new chapter in the havoc affecting all sections of Greek political life. “We haven’t yet lived our best days,” the 41-year-old prime minister said as he stood down, though there is little cause for optimism.

Tsipras’s capitulation to the indebted state’s lenders by signing up to more austerity measures has split his party and demoralised further a people resigned to their fate.

Polls show that no party commands an absolute majority at present. It seems as though we are heading for years of grand coalitions made up of uneasy partnerships that can only hope to manage austerity, with little room for social reform. The main parties from across the political spectrum have lost legitimacy and the anti-austerity campaign is more marginal than ever. Many fear the rise of extremists, such as members of the neo-Nazi Golden Dawn. Thankfully, that is unlikely to happen: the party’s leadership is facing a number of grave accusations, including forming a criminal organisation, and its general secretary, Nikolaos Michaloliakos, is going out of his way to appear more moderate than ever.

It is to the left of Syriza that most activity is taking place. The former energy minister Panagiotis Lafazanis has defected to co-found a new party, Popular Unity (an ironic name in the circumstances), joined by MPs from the radical Left Platform and, according to the latest information, Zoi Konstantopoulou – the current speaker of the Hellenic
Parliament, who had considered starting her own party but lacked time and support in the run-up to the general election, scheduled for 20 September.

Popular Unity’s stated aim is to take Greece out of the deal struck with its creditors, to end austerity (even if that means leaving the euro) and to rebuild the country. It is likely that the party will work with the far-left coalition Antarsya, which campaigned hard to guarantee the Oxi referendum victory in July and increasingly looks like Syriza in 2009, when it won 4.6 per cent of the vote in the Greek legislative election under Tsipras.

Yet it is dispiriting that few on the left seem to understand that more splits, new parties and weak, opportunistic alliances will contribute to the weakening of parliamentary democracy. It is perhaps a sign that the idea of a left-wing government may become toxic for a generation after the six months that took the economy to the edge and failed to produce meaningful change.

Despite this fragmentation on the left, the largest right-wing opposition party, New Democracy, has been unable to force a surge in the polls. Its new leader, Vangelis Meimarakis, enjoys the respect of both the parliament and the public but has few committed supporters. The apolitical alliance To Potami (“the river”) appears to have stalled on 6-8 per cent, while the once-dominant Pasok is unlikely to enter parliament without forming a coalition on the centre left, postponing its predicted collapse for a few more years.

The winner amid all of this is apathy. Many believe that a large number of Greeks won’t vote in the September election – the fifth in six years (or the sixth, if you include the referendum in July). The situation in Greece should serve as an example of what could happen to democracies across Europe that lack political unity: parties with clear ideological positions end up serving as managers of diktats from Brussels, while more extreme forces become the de facto opposition. In this harsh climate, many citizens will either abandon their politicians or, in a bleaker scenario, reject the democratic system that elected them. 

Yiannis Baboulias is a Greek investigative journalist. His work on politics, economics and Greece, appears in the New Statesman, Vice UK and others.

This article first appeared in the 27 August 2015 issue of the New Statesman, Isis and the new barbarism