The Klemperers had gotten married in 1875 and lived on Wiener Straße 25, in a mansion near the Großer Garten, with their three sons Victor, Herbert Otto, and Ralph Leopold.
Gustav Klemperer and his wife Charlotte possessed the perhaps largest and most important private collection of 18th century Meissen porcelain in Germany.
He was the director of the Dresdner Bank and served Austria as honorary consul. For this, Emperor Franz Joseph I. bestowed upon him a royal title. From 1910 on, the von Klemperer Family was called the nobles von Klemenau.