What Happens to Elvis’s Legacy Now?
Elvis Presley, the King of Rock and Roll, died in 1977. Like most celebrities of his stature, he left behind a complicated legacy—and a considerable estate. Elvis’s estate, including Graceland, ended up in the hands of his only child, Lisa Marie Presley, who passed away in January at fifty-four years old. It is now set to pass to Lisa Marie’s three daughters.
Several complications could make administering Lisa Marie’s estate a messy affair, however. Personal financial issues, a wide age gap between her children, and a challenge to her will by mother Priscilla Presley cast doubt over what will happen not only to her estate, but the future of Elvis’s legacy.
Lisa Marie: Her Inheritance and Finances
Lisa Marie was born in 1968 to Elvis and Priscilla Presley. Less than a decade later, her father passed away from a heart attack at the age of forty-two. Lisa Marie would die of her own heart problems nearly forty-six years later, in January 2023.
Elvis never lost popularity in the decades following his death—his estate raked in an estimated $400 million last year, as the 2022 Elvis biopic movie helped to boost the value of the estate from around $500 million to more than $1 billion.
The Elvis Presley Trust
When Elvis died, his estate was placed in a trust, with Lisa Marie, Elvis’s grandmother, and his father as the beneficiaries. Elvis stipulated that Lisa Marie’s inheritance was to be held in trust for her until her twenty-fifth birthday on February 1, 1993. On that date, the trust automatically dissolved, and Lisa Marie inherited $100 million.
Part of her inheritance was her childhood home, Graceland, which has become a museum and international tourist attraction that generates over $10 million per […]