Elvis Presley, born on January 8, 1935, in Tupelo, Mississippi, rose from humble beginnings to become the “King of Rock ‘n’ Roll.” His early exposure to gospel, blues, and country music shaped his unique sound. In 1954, he recorded at Sun Studio in Memphis, which led to a contract with RCA Victor in 1956. His first single, “Heartbreak Hotel,” and debut album catapulted him to national fame. Known for his dynamic performances and charismatic stage presence, Elvis revolutionized the music industry with hits like “Hound Dog,” “Don’t Be Cruel,” and “Love Me Tender.”
Beyond music, Elvis Presley significantly impacted the film industry, starring in over 30 movies, including “Jailhouse Rock” and “Blue Hawaii.” His personal life, including his marriage to Priscilla Beaulieu and their daughter, Lisa Marie Presley, was highly publicized. Despite his professional success, Elvis faced personal challenges, including health issues and a dependency on prescription drugs. His Las Vegas residencies in the late 1960s and early 1970s marked a successful comeback, but his health deteriorated.
Elvis died on August 16, 1977, at his Memphis home, Graceland, at the age of 42. Despite his early death, his influence on music and culture remains significant. Graceland has since become a major tourist attraction, and his posthumous earnings continue to grow as his enduring popularity and the continued success of his estate reflect his lasting impact on the world of entertainment.
Presley continues to generate significant income each year. From his modest start in Mississippi to the grandeur of his Graceland mansion in Memphis, Elvis Presley’s net worth became a treasure fit for a king. Yet, the fortune he amassed by his death is a mere fraction compared to the value of the Elvis Presley estate today.
Let’s explore everything we know about Elvis Presley’s net worth, from the size of his fortune at his death to who inherited it and transformed Graceland into what it is today.
Elvis Presley’s Net Worth At The Time Of His Death: $20 million
At his death, Elvis Presley’s fortune was $5 million. Adjusting for inflation, his net worth would have been around $20 million by today’s standards.
An article published by the Los Angeles Times in 1989 revealed essential figures about Elvis Presley’s earnings. The year 1956 marked the beginning of Elvis Presley’s fame, and at his peak, he would sell even more worldwide. By then, Elvis Presley had already sold $22 million worth of merchandise ($236.42 million in today’s money). Elvis Presley’s average concert earnings in the mid-’70s were around $130,000 per night. Not to mention, Elvis made $250,000 in royalties for each album released. In 1973, only four years before his death, Elvis Presley sold the royalties to more than 1,000 songs in his catalog for $5.4 million.
Elvis Presley’s career, as we all know, also extended into film. While his movie career wasn’t as legendary as his music, it still brought him significant earnings. Elvis earned $1 million per movie role, appearing in 31 films between 1956 and 1969, including classics like Love Me Tender, Jailhouse Rock, and Blue Hawaii.
But why, in the end, did the American singer have a net worth of “only” $30 million at the time of his death? The explanation primarily lies in how quickly the money that came in over 20 years went out. Elvis spent millions on real estate, his divorce from Priscilla Presley, his prescription drug addiction, and his entourage, which included many family members and close friends. His most significant expense was the purchase and upkeep of his Graceland mansion in Memphis. And to help a little more, Colonel Tom Parker’s staggering 50 percent cut of his earnings was a major factor in the significant reduction of Elvis Presley’s net worth.
Even so, we’re still talking about a fortune worth millions, which has continued to grow more vigorously from decade to decade up to the present day. But who is all that money going to?
Elvis Presley Fortune: Who Inherited His Estate?
Elvis Presley left his fortune to his father, Vernon Presley (the executor and a trustee of his estate), his grandmother, Minnie Mae Hood Presley, and his nine-year-old daughter, Lisa Marie Presley. However, his heirs began to die relatively quickly: just two years after Elvis’s death, in 1979, his father died, followed by his grandmother the following year.
Despite their divorce in 1973, Priscilla Presley remained Elvis Presley’s close friend. Lisa Marie Presley was eleven and a minor then (her inheritance was held until her 25th birthday), so Priscilla assumed responsibility for managing Elvis Presley’s estate. Surprisingly, Priscilla proved to be an intelligent businesswoman—she was the one who would later transform Graceland into a museum. Upon discovering that Elvis’s fortune had decreased by 80%, she took control of the situation.
However, by the time Lisa Marie inherited Elvis’ whole estate in 1993, the amount had grown to $100 million, thanks to Priscilla’s management. Priscilla successfully restored Presley’s financial legacy. By then, Elvis Presley’s music and his Graceland estate raked in millions every year.
In 1998, Lisa Marie took on a more active role as the owner and chairman of the board for the Elvis Presley Trust and its business entity, Elvis Presley Enterprises Inc. At the beginning of the 2000s, Elvis’s estate generated an average of $30 to $35 million annually.
In 2023, Lisa Marie Presley died, and by 2024, actress Riley Keough—Elvis Presley’s granddaughter and Lisa Marie’s daughter—had become the sole trustee of the Elvis Presley estate.
Elvis Presley Wealth and Estate Today: $1 Billion
When Elvis Presley died nearly five decades ago, his net worth was $5 million. However, his popularity never faded, and his estate earned an estimated $400 million in 2020. The 2022 biopic about Elvis significantly boosted the estate’s value, raising it from approximately $500 million to over $1 billion. In 2023, Elvis Presley generated $100 million from music sales and his Graceland museum.
Elvis has frequently topped Forbes’ “Richest Dead Celebrity” list, with only Michael Jackson surpassing him. According to the publication, the Presley estate earned $23 million in 2020 alone, with much of this income coming from Graceland, which typically generates around $10 million annually.
How Much Did Elvis Presley Pay for Graceland?
Graceland was more than just a residence for Elvis Presley; it was his sanctuary and a place where he found solace. In March 1957, at 22, Elvis purchased Graceland for $102,500 (about $1.1 million today). This 23-room mansion in Memphis quickly became more than just a home for Elvis. It also served as his parents’ and paternal grandmother’s residence, creating a family haven.
Maintaining Graceland proved to be quite costly. In the late 1970s, the annual expenses amounted to approximately $480,000. These costs covered taxes, insurance, and round-the-clock security for Presley’s grave, ensuring the estate remained well-guarded and preserved.
Over time, Graceland evolved from a private retreat into a significant tourist attraction. The estate opened its doors in 1982, allowing fans and visitors to explore the mansion’s first floor and view Presley’s extensive collection of guns and cars. According to Rolling Stone, Graceland drew an impressive 3,000 visitors on its opening day and has since attracted around 600,000 visitors annually. Today, it is the second most visited house in the United States, following the White House, solidifying its status as a cultural landmark and a lasting tribute to Elvis Presley’s enduring legacy.