Allen Klein, the former record artist accountant then manager of The Beatles
and The Rolling Stones, has died aged 77 after complications due to Alzheimer’s.
The entrepreneur was once labeled as among the most powerful men in music as
well as being called the ‘shark in murky waters’ for his tough negotiating
skills when it came to recording contracts. He rose to fame in the 1960s for,
amongst other things, his relentless applications of accounting methods
Klein said: ‘I never wanted to be a manager. It was going over the books that
It is reported that John Lennon persuaded his fellow Beatles to recruit Klein
as manager as he said he wanted ‘a real shark, someone to keep the other sharks
Klein managed the Rolling Stones in the 1960s for approximately five years
where he most notably renegotiated their contract with record company Decca.
Klein told Decca company chairman that he hoped his executives could sing as
‘you’ve just lost the Stones’. Decca eventually paid a higher price for the
contract to retain the group.
Later the Stones parted company with Klein with the accountant taking the
rights to some of their famous songs such as ‘(I can’t get no) satisfaction’
with Keith Richards labeling the moves as ‘the price of an education’.
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