Barry Klarberg

Last updated
Barry J. Klarberg
Barry Klarberg.jpg
Barry Klarberg at 2015 Pace University Commencement
Born (1961-03-04) March 4, 1961 (age 63)
Rockaway, Queens, New York, U.S.
Occupation(s)Entertainment & Sports Business Manager and Limited Partner of the New York Yankees [1]
PartnerSara Herbert (married 2018)
Children6 (Nikki, Matt, Ryan, Jake, Justin and Alana)

Barry J. Klarberg (born March 4, 1961), CPA, is an American businessman. He is a professional business and wealth manager for athletes, entertainers, and high-net-worth individuals. [1] [2] He is the founder and CEO of Monarch Business and Wealth Management, a full-service firm and family office that specializes in providing business and wealth management services. [3]

Contents

In January 2022, Klarberg sold Monarch Business & Wealth Management, a financial planning firm for high net-worth individuals, to MAI Capital Management and Galway Holdings, a company with $12.2B assets under management. Klarberg will become Senior Managing Director at MAI Capital Management. [4]

Klarberg has managed several prominent individuals including musician/actor Justin Timberlake, [5] recording artist Nicki Minaj, music group NSYNC, [6] artist Alec Monopoly, entrepreneur Russell Simmons, [7] DJ and record producer Kaskade, NASCAR champion Kyle Busch, DJ and record producer John Summit, professional tennis player/model Anna Kournikova, [1] NBA All-Star Kyle Lowry, MLB All-Star and Homerun Champion José Bautista, professional soccer player Jozy Altidore, NBA analyst and entrepreneur Jay Williams, MLS All-Star and Captain of the United States men's national soccer team Michael Bradley, and NHL Hall-of-Famer Mark Messier. [8]

Klarberg holds an ownership stake in four American professional sports franchises. He is an owner of the New York Yankees, being a Partner since 2011. [9] Klarberg is an owner of the Major League Soccer (MLS) team New York City FC. [10] In 2023, Klarberg is also became an owner of the United States SailGP Team. [11]

Since 2017, Klarberg taught "Business Developments in Sports" at the University of Michigan in Ann Arbor. [12]

He regularly appears on CNN, CNBC and The Wall Street Journal Report, and authored the book "Winning Tax Strategies and Planning for Athletes and Entertainers." [2] Klarberg has also been elected to the Sports Business Journal's "Forty Under 40," as he was selected as one of the forty most influential executives in the sports business under the age of 40. [13]

In April 2016, Klarberg represented NFL star Rob Gronkowski and launched with Monster Energy a signature beverage "Gronk" that will be distributed by Coca-Cola. [14]

In May 2016, Klarberg shaped Tom Brady’s new Simmons Beautyrest Black luxury mattress ad campaign, aiding Simmons’ marketing team in pitching the campaign to the three-time Super Bowl MVP. [15]

In April 2021, Klarberg represented Bethenny Frankel in signing a multi-year deal with iHeartRadio to bring the podcast “Just B with Bethenny Frankel” to the iHeartPodcast Network. [16]

Klarberg was commissioned the honorary title Kentucky Colonel, the highest honor awarded by the Commonwealth of Kentucky, by Kentucky Governor Steven Beshear.

In 2015, Klarberg gave the commencement address at alma mater Pace University to the undergraduate Class of 2015 and received an honorary doctorate degree. [17] Klarberg also returned to Pace University as an Executive-in-Residence and a Lecturer-in-Residence at the Lubin School of Business. [18] Klarberg is a member of the President's Council at Pace University.

Education and early career

Klarberg received his BBA (1981) and MS in Taxation (1985) from Pace University. He was an adjunct professor of Taxation at Pace University from 1985–1989. Klarberg began his career at Deloitte in 1981, where he spent 11 years. At Deloitte, he was the National Director of Sports and Entertainment. In 1992, Klarberg formed KRT Business Management, specializing in professional wealth management services, which he eventually sold to Assante Wealth Management Services. [19] [20] [21]

Preceding Monarch, Klarberg spent two years as Senior Managing Director at Guggenheim Partners. In this role, Klarberg headed up Guggenheim Wealth Services' New York office. [22]

Monarch Business & Wealth Management

Klarberg is the founder of Monarch Business & Wealth Management, a financial and life management company and family office that represents professional athletes, internationally acclaimed entertainers and high-net-worth families. He currently manages recording artist Nicki Minaj, artist Alec Monopoly, entrepreneur Russell Simmons, [7] DJ and record producer Kaskade, several top NASCAR drivers, DJ and record producer John Summit, Anna Kournikova, MLB All-Star C. J. Wilson, MLB All-Star and Homerun Champion José Bautista, professional soccer player Jozy Altidore, and NHL Hall-of-Famer Mark Messier, [8] amongst others. In 2011, Asset Alliance Corporation, a New York-based private equity firm with more than $1 billion under management, acquired an equity interest in Monarch Business & Wealth Management. [23]

In 2012, the Sports Business Journal reported on Klarberg's expansion of Monarch Management. The report of this expansion included Klarberg's proposed acquisition of Miami-based ASF Consulting, a firm owned by Allen Furst that represents several current and former MLB and NBA players, including Roy Hibbert, Jeff Green and Alonzo Mourning. [24] Klarberg further expanded Monarch when he hired former Major League Baseball starting pitcher and United States Olympian Kris Benson as Managing Director at Monarch Business & Wealth Management. [25]

In 2013, CertusBank, a nationally chartered bank with nearly $2 billion in assets, made a strategic investment in Monarch. [26]

In April 2016, Klarberg represented NFL star Rob Gronkowski and launched with Monster Energy a signature beverage "Gronk" that will be distributed by Coca-Cola. [27]

In 2016, Josh Klein became a partner in Monarch, whose clients include The Chainsmokers, Big Sean, Logic, DJ Snake and Kelly Rowland.

In January 2022, Klarberg sold Monarch Business & Wealth Management, a financial planning firm for high net-worth individuals, to MAI Capital Management, a company with $12.2B assets under management. Klarberg serves as Regional President and Senior Managing Director at MAI Capital Management. [28] MIA Capital Management promoted Klarberg's son Matt Klarberg, whose clients include John Summit, Tokischa, and Devin Haney, to Managing Director of Entertainment. [29]

New York Yankees and Yankees Global Enterprises

In September 2011, Klarberg became a Limited Partner of the New York Yankees. Teaming up with former Glencore oil commodities trader Ray Bartoszek, the two currently hold an ownership interest in Yankee Global Enterprises including a stake in the Yankees Entertainment & Sports Network (YES Network). [30] In 2013, Klarberg also became an owner of Major League Soccer team New York City FC. [31]

Personal life

Klarberg is a resident of Greenwich, Connecticut. He is currently married to charity consultant Sara Herbert-Galloway.

Community involvement

Klarberg is actively involved in various charity and community activities including the National Meningitis Association, the USO, and Homeland Security's Federal Enforcement Foundation. [32] In 2011, Klarberg was selected as an Executive Committee Member of the USO Entertainment Advisory Council, which helps brings professional athletes and entertainers overseas to visit American soldiers.[ citation needed ]

In April 2012, Klarberg, along with Sara Herbert, was honored with the National Meningitis Association Nancy Ford Springer Inspiration Award for his long-standing support of NMA’s fight against the vaccine-preventable disease. [33] [34] [32]

In 2012, Klarberg was selected as a member of the 2014 NY/NJ Super Bowl XLVIII Host Committee. [35]

Klarberg and sons Matt and Ryan Klarberg were commissioned the honorary title Kentucky Colonel, the highest honor awarded by the Commonwealth of Kentucky, in 2012 by Kentucky Governor Steven Beshear, in recognition of their noteworthy accomplishments and outstanding service to the greater community. [36]

In 2015, Klarberg gave the commencement address at alma mater Pace University to the undergraduate Class of 2015 and received an honorary doctorate degree. [37] Klarberg also returned to Pace University as an Executive-in-Residence and a Lecturer-in-Residence at the Lubin School of Business. [38]

Klarberg is a member of the President's Council at Pace University.

Since 2017, Klarberg taught "Business Developments in Sports" in the Sport Management Program at the University of Michigan in Ann Arbor, which regularly features celebrity guest lecturers. In September 2024, Big Noon Kickoff featured Klarberg's sports management class in a segment starring Mark Ingram II and Urban Meyer. Also in September 2024, recording artist and DJ John Summit lectured at Klarberg's class. [39]

In Fall 2024, Klarberg lectured at the London School of Economics as a three-part series discussing business development in sports.

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References

  1. 1 2 3 Sports Business Journal. "Athlete advisors Klarberg, Furst Close to Deal", April 9, 2012.
  2. 1 2 San Francisco Chronicle. "Asset Alliance Acquires Equity Interest in Klarberg's Monarch Business and Wealth Management, LLC", March 26, 2012.
  3. ↑ "Monarch Wealth and Business Management Homepage".
  4. ↑ Sports Business Journal "Klarberg's Monarch acquired by MAI Capital Management", January 3, 2022.
  5. ↑ Inside."Behind Big Bucks 'N Sync-MSN Deal, a Secret Backroom Fixer" Archived 2011-10-01 at the Wayback Machine December 2003.
  6. ↑ Billboard. "Billboard Bits: ‘N Sync, Goo Goo Dolls, Blackground" December 2001.
  7. 1 2 SD Mack. "Russell Simmons’ 9th Annual Art for Life East Hampton" July 2008.
  8. 1 2 New York Times. "Let's Hoist That Banner! Will Messier Join Party?" January 1995.
  9. ↑ New York Times "Investor Who Talked to Mets Buys Part of Yankees", September 19, 2011.
  10. ↑ New York Times "Manchester City and Yankees to Own MLS Franchise in New York", May 21, 2013.
  11. ↑ Sailgp.com "Sport, Tech and Entertainment Leaders Join Forces To Purchase The United States SailGP Team, November 29, 2023.
  12. ↑ University of Michigan "Business Developments in Sports at the University of Michigan", 2017.
  13. ↑ Sports Business Journal. "Sports Business Journal's Forty Under 40 2000 Recipients", January 2011.
  14. ↑ Darren Rovell, ESPN "Patriots TE Rob Gronkowski signs multiyear deal with Monster drink", November 21, 2015.
  15. ↑ Sports Business Journal "Simmons Gives Patriots' No. 12 A Shot At Being 007 In New Ad", May 16, 2016.
  16. ↑ MarketScreener "iHeartMedia : Bethenny Frankel Signs Multi-Year Deal with iHeartRadio to Bring Hit Podcast “Just B with Bethenny Frankel” to the iHeartPodcast Network", April 2, 2021.
  17. ↑ Daily Voice "Pace Alumni Barry Klarberg Helps Top Stars Grow Wealth", May 30, 2015.
  18. ↑ Pace University "Pleasantville Lubin School of Business Executives in Residence", 2015.
  19. ↑ Sports Business Journal "Assante Scoops Up Klarberg Raiola Firm", February 7, 2000.
  20. ↑ PR Newswire "Assante Corporation Acquires Leading New York Based Professional Services Firm Klarberg, Raiola & Associates", January 8, 2000.
  21. ↑ Registered Rep. "Show Me The Money", June 2002.
  22. ↑ Sports Business Journal. "Guggenheim Buys Adviser Klarberg's Firm", November 2006.
  23. ↑ San Francisco Chronicle. "Asset Alliance Acquires Equity Interest in Monarch Business and Wealth Management, LLC", March 26, 2012.
  24. ↑ Sports Business Journal. "Athlete Advisor Klarberg, Furst Close to Deal", April 9, 2012.
  25. ↑ LinkedIn. "LinkedIn Profile for Kris Benson"
  26. ↑ GlobeNewswire. "CertusBank to Make Strategic Investment in Monarch Business and Wealth Management LLC", August 19, 2013.
  27. ↑ Darren Rovell, ESPN "Patriots TE Rob Gronkowski signs multiyear deal with Monster drink", November 21, 2015.
  28. ↑ Sports Business Journal "Klarberg's Monarch acquired by MAI Capital Management", January 3, 2022.
  29. ↑ Billboard "Billboard’s 2023 Top Business Managers Revealed", November, 20, 2023.
  30. ↑ David Waldstein, New York Times "Investor Talked to Mets But Buys Part of Yankees", September 20, 2011.
  31. ↑ New York Times "Manchester City and Yankees to Own MLS Franchise in New York", May 21, 2013.
  32. 1 2 Dan's Hamptons. "Barry J. Klarberg to Receive the National Meningitis Association's Nancy Ford Springer Inspiration Award" March 18, 2012.
  33. ↑ Huffington Post "Meningitis: Give Kids a Shot -- Save a Kid's Life", April 25, 2012.
  34. ↑ New York Daily News. "Charlie Sheen Wants to Win Against Meningitis" April 2012.
  35. ↑ "2014 NY/NJ Super Bowl Host Committee"
  36. ↑ "Barry Klarberg". barryklarberg.org. Retrieved 1 June 2015.
  37. ↑ Daily Voice "Pace Alumni Barry Klarberg Helps Top Stars Grow Wealth", May 30, 2015.
  38. ↑ Pace University "Spring 2015 - Pleasantville Lubin School of Business - Pace University - Executives in Residence", 2015.
  39. ↑ The Michigan Daily "John Summit’s ‘Experts Only’ is ‘Where You Are’ and where you’ll always want to be", October 3, 2024.
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