The beneficiaries were Elvis' grandmother, Minnie Mae Presley; his father, Vernon Presley; and his only child,
But in 2004, she agreed to sell off 85% of Elvis Presley Enterprises' assets, including Elvis' likeness rights, for around $100 million to music entrepreneur Robert F.X. Sillerman and his company CKX Inc. Lisa Marie Presley retained 15% ownership in Elvis Presley Enterprises.
The fate of Elvis Presley's Graceland mansion has been revealed. The Memphis, Tenn. estate will be inherited by Lisa Marie Presley's three daughters—Riley Keough and Harper and Finley Lockwood—following her death at age 54, a representative for Graceland confirmed to E! News on Jan. 17.
Lisa Marie decided to allow Barry Seigel to handle all the funds, which were mostly sold in 2005 as Elvis Presley Enterprises. Exactly 85% of Elvis' image rights were sold and this left Lisa Marie with about $40 million after taxes. Unfortunately, she lost all that inheritance between 2005 and 2015.
It's unclear how much money is involved in the trust, but it essentially holds the entirety of Elvis Presley's estate. Priscilla, who has been credited with bringing her former husband's estate out of debt, wants to retain control over the trust, according to her January filing.
Somewhat shockingly, Lisa Marie Presley's net worth in 2023 was estimated to be $-16 million. Lisa Marie sold an 85% stake in Elvis Presley Enterprises to CKX, the same company that owned American Idol, in 2005, but the business venture failed.
The Upstairs Remains Off Limits
It was there, in his bathroom, that Presley's body was found on Aug. 16, 1977. After the home was opened to the public in 1982, the second floor was sealed shut out of respect to the family — and also to avoid any macabre attention at the scene of his death.
Priscilla Presley's net worth is around $50 million according to Celebrity Net Worth.
After Elvis died in 1977 at Graceland, Priscilla helped establish Elvis Presley Enterprises (EPE), which launched Graceland into a top international tourist destination.
According to Celebrity Net Worth, the King of Rock n' Roll was worth an estimated $5 million at the time of his death in August 1977. Adjusting for inflation, Elvis Presley's net worth when he died would round out to around $20 million by today's standards.
Elvis Presley's iconic Graceland mansion will stay in the family after the death of his only child, Lisa Marie Presley. The 54-year-old singer died last week after suffering a cardiac arrest. Presley's three daughters, Riley, Harper and Finley, will inherit the Tennessee estate, according to a representative.
The disagreement arose after the elder Presley disputed a 2016 amendment to her daughter's will, which said the late Lisa Marie had removed her mother and former business manager, Barry Siegel, as co-trustees and replaced them with her children Riley and Benjamin Keough, the latter of whom later died in 2020.
Sources told TMZ that Priscilla wanted a burial spot next to her ex-husband – who died in 1977 – at his Graceland estate. His final resting place is flanked by the graves of his beloved mother and father. Her request was described as a “non-starter”, so Priscilla backed down without much of a discussion.
Did Ginger Alden Attend Elvis' Funeral? Yes. As his fiancée at the time, it is believed that Ginger Alden was present for Elvis' funeral. Following the funeral, however, she was reportedly banned from Graceland by Presley's family and had to receive permission to visit his grave.
With Minnie Mae Presley's death in 1980, Lisa Marie became the only surviving beneficiary. In 1993, Presley inherited her father's estate on her 25th birthday, which thanks largely to the stewardship of her mother, had grown to an estimated $100 million.
That estate is now valued at approximately $1 billion, but the Presley family has little control over the operation. The sudden death of Lisa Marie Presley means that her three daughters will become the new owners of their grandfather's historic estate, Graceland.
Graceland Holdings LLC, led by managing partner Joel Weinshanker, is the majority owner of EPE.
Following Lisa Marie's death on Jan. 12, 2023, her daughter Riley Keough's rep confirmed to PEOPLE that the daughter of Elvis will be laid to rest at Graceland. "Lisa Marie's final resting place will be at Graceland, next to her beloved son Ben," a statement to PEOPLE read.
The upstairs rooms could be accessed by Elvis' personal invitation only. Linda Thompson, another ex, lived with Elvis from 1972 to 1976 and remembers that his bedroom was “black, red and gold. … And no — the windows were ever opened,” she shares.
Elvis Presley's famous Graceland mansion in Memphis, Tennessee, is staying in the family following the death of his daughter.
Despite the fact that Sony BMG owns the rights to Elvis' recordings, they continue to release them under the RCA Records label. The songs are owned by the composers and publishers. The Sun and RCA recordings were never his.
Lisa Marie Presley made news again after her death when it was announced that her daughters, Riley Keough and twins Finley and Harper Lockwood, would inherit the mansion Graceland, located in Memphis, Tennessee formerly belonging to their grandfather, Elvis Presley.
Following her death, Elvis Presley's legendary Tennessee estate will be passed down to her three children, Riley, Harper, and Finley.
Although their marriage didn't last, Elvis and Priscilla had love for one another until the singer's death in 1977. Priscilla said they "never lost our friendship and our care for each other," and they would often talk on the phone.