Elvis Presley, “King of Rock and Roll” – one of the most – and, perhaps, v the most popular music artists of all time. During his career, he has sold over 600 million records. Many of his most popular songs, such as Jailhouse Rock, Viva Las Vegas and If I Can Dream, have become classics. His rags to riches story of a Tupelo, Mississippi boy who became America’s biggest star has inspired many. However, when the king passed away in 1977, his net worth (after taxes) was only $ 1 million.
In the years since his death, his ex-wife Priscilla Presley has worked hard to preserve his legacy and transform his Graceland mansion into a hugely successful museum and second most visited home in the United States after the White House. But could she change the fate of the Presley estate?
6 At 22, Elvis was wealthy enough to buy Graceland
Starting humbly in a one-room home with his parents, Elvis achieved fame and success that he could never have dreamed of as a child. His dramatically improved financial situation soon allowed him to buy whatever he wanted: cars, clothing, custom made guitars, and more. At the top of the list, however, was a beautiful home that he could share with friends and family. In 1957, singer Blue Suede Shoes bought Graceland for $ 102,500 (which is about $ 1 million after adjusting for inflation today).
5 He can ask for $ 1 million to perform
Such was Elvis’ success that he could expect huge sums of money for his public appearances. In accordance with Celebrity net worthAt the height of Elvis’s success, he was making $ 1 million per show. All of these concerts, album sales, merchandise revenues and movie deals quickly piled up and made Elvis an extremely wealthy man.
4 Unfortunately, the one who earns a lot was also a big spender.
While big purchases like Graceland didn’t make up a large chunk of Elvis’ money, spending soon began snowballing. Of course, Elvis’s spending habits began to decline excessively. He was unusually generous, on a whim he gave Cadillac cars and jewelry, loved to pamper himself and those around him, buying horses, extravagant furniture and even an airplane.
His divorce from Priscilla in 1972 was also costly. She was awarded $ 725,000 in addition to child support for their daughter, 5% of his earnings and 50% of the final sale price of their Beverly Hills home.
That, along with his penchant for excess, meant that by the time Elvis died prematurely at age 42, very little was left of him. Before taxes, his name was only $ 5 million – a fortune, of course, but a tiny fraction of what he made in his two-decade career.
Elvis bequeathed his estate to his father, grandmother and little daughter Lisa-Maria. At the age of 25, Lisa Marie took over the management of the estate.
3 Priscilla oversaw the restoration of Elvis’ estate
After Elvis’s death, his ex-wife Priscilla took over the management of his estate, which fell to $ 1 million after taxes on Graceland and its upkeep. Priscilla began the process of transforming Graceland into a museum, and also founded Elvis Presley Enterprises, settling the star’s debts and making plans to restore his legacy and secure a beautiful future Memphis estate.
2 Elvis is now worth a hundred times more
Priscilla has been very successful in transforming her ex-husband’s fortune. She worked tirelessly to restore the building, buying back many of the furniture and memorabilia that were associated with the building, re-commissioning the stables and returning the home to what it was in Elvis’ time. The improvements and opening of the late star’s home to the public soon attracted thousands of visitors not only from across America, but from all over the world. Fans love seeing where the singer played his music, hung out with friends and had fun, and appreciated the unique décor of the entire house, including the famous Jungle Room.
one Today Elvis is one of the richest deceased celebrities in the world.
This huge change in state made Elvis richer than he possibly ever was in his lifetime. In accordance with ForbesPresley was the fifth highest paid dead celebrity of 2020. He is undeniably the most successful solo artist of all time. The millions of dollars in music sales and Graceland’s income meant the king added a whopping $ 23 million to his net worth in 2020 alone.
The name of the iconic artist lives on, and his timeless music continues to gain popularity among music lovers around the world.
Next: 15 Surprising Facts About Lisa Marie, Elvis Presley’s Daughter
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